Japan, China and Brazil Lose Momentum as India Grows

Official data in Japan has revealed an economic slowdown, with households spending less in July and factory output being scaled back.

Much the same is true in China, where the expected manufacturing output was down for August. According to the country’s purchasing managers index (PMI) target, activity is down from predictions.

Economists had expected the PMI to hit 52.2 but only achieved 51.1. In July, the figure was 51.7

India meanwhile is expecting to see its fastest economic growth in two-and-a-half years.

The country’s Ministry of Statistics has said that strong performance in utilities and the financial services has helped achieve growth of 5.7% in the twelve weeks to June this year.

India’s fellow BRIC country Brazil had a less favourable second quarter to the year however, with official figures confirming that the country has fallen back into recession.

Coming just a moth ahead of the South American’s country’s general election, commentators are expecting a rough showing in the polls for the government of President Dilma Rousseff.

According to the latest GDP figures for the country, output slumped by 0.6% in the up until June, significantly below the level analysts had been predicting.

The World Cup earlier in the year had been hoped to boost levels of spending throughout the country, but early data has suggested this is far from so, with no growth for the year now being forecast.