New Delhi, Mar 7 (KNN) The HSBC composite index for India’s manufacturing and services sectors during February stood at 50.3, whereas for China it was 49.8, Brazil 50.8 and Russia 50.2, according to a survey.

An index measure of above 50 indicates expansion.

The HSBC Emerging Markets Index (EMI), a monthly indicator derived from PMI surveys, dropped to 51.1 in February from 51.4 in January, signalling the weakest growth in global emerging market output since September.

Business activity across emerging markets expanded in February at the slowest pace in five months, weighed down by weaker manufacturing in big developing countries such as Russia and China, according to the HSBC’s composite emerging markets index of manufacturing and services purchasing managers' surveys.

It stayed under the 2013 average of 51.7 and well below a long-run level of 54.0.

“Emerging economies are struggling to gain traction. The HSBC EMI lost ground for the third straight month, slipping to 51.1 in February,” HSBC Chief Economist, CEE and Sub-Saharan Africa, Murat Ulgen said.

February services activity in the biggest emerging markets rose at a slightly stronger rate than the previous month when it was at a six-month low, the survey showed.

"Conditions are likely to remain subdued in March, with incoming new business rising at the slowest rate in five months," HSBC said.

However, the HSBC Emerging Markets Future Output Index, which tracks firms’ expectations for activity in 12 months’ time, picked up in February to an 11-month high, reflecting improved sentiment in both manufacturing and services.

Among the largest emerging markets, China posted the strongest sentiment in 11 months for manufacturing and services combined. (KNN/SD)