Economy
Market bull run keeps India at top among its peers in June: Mint’s EM tracker
Summary
India’s top ranking in the monthly Mint tracker has been led by a strong stock market performance, backed by a strong GDP growth and PMI reading.
The Indian economy retained the first position in Mint's emerging markets (EM) tracker for a seventh straight month, thanks to a stellar performance by the stock market, whose average monthly capitalization rose by 5.3%, the best among all other emerging market peers in the league table.
Apart from India, Malaysia was the only other country to witness a rise in its stock market capitalization during the month. Strong GDP growth and Purchasing Managers’ Index manufacturing also played a role in keeping India on top. For the month of June, India's composite score was 84.
Also read:Economic Survey: The government’s recipe for growth, in 12 charts
China retained its second position in June on the back of a strong performance in exports growth and import cover. Its retail inflation was the lowest amongst the peers.
Also read: Shining GDP overshadows slower GVA: Decoding growth numbers in 7 charts
Malaysia held its third position for the second consecutive month in June with strong export growth, slight appreciation in its currency and a relatively better stock market performance.
Launched in September 2019, Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators: real GDP growth, manufacturing PMI, export growth, retail inflation, import cover, exchange rate movement, and stock market.
The rankings are provisional as the scores will get updated once all latest data is available.
Methodology note: The tracker is a monthly summary of economic activity across nine large emerging markets based on seven high-frequency indicators. Latest available data is used.
On each indicator, the best-performing economy gets a score of 100, the worst one gets zero, and the others get linearly-interpolated relative scores. A country's composite index score is the simple average of its seven indicator scores.
Earlier, the tracker had a 10th country, Russia, but it has been dropped temporarily as some data has not been reliably available since the Ukraine war began.
