3/3/16: BRIC Composite Activity – February

Jon Blogosphere, Economy, Market Commentary

On a cumulative basis (based on Composite PMIs for each country), the BRIC economies as a group have posted a very disappointing performance in February 2016.
Note: for this index, 100.0 is a zero growth marker.
Russian economy Composite Indicator posted a positive upside surprise, rising from a contractionary reading of 96.8 in January to a weakly-expansionary reading of 101.2. 3mo average through February 2016, however, remains below 100 line at 97.9, which is weaker than the 3mo average through November 2015 at 100.3. The details of Russian Manufacturing sector woes are covered here:while details of Russian Services and Composite PMIs upside are covered here:As a result, Russian economy acted as a factor pushing up BRIC rates of growth in February:

This post was published at True Economics on March 3, 2016.