Emerging market growth

Emerging market growth continued to moderate in the
third quarter of 2012 as sustained expansion in service
sector activity was offset by a fall in manufacturing as
global demand softened, the HSBC Emerging Markets
Index (EMI) shows.
The EMI slipped to 52.1, from 53.2 in the second
quarter, with the rate of emerging market growth at its
weakest for a year and its second-slowest since Q2
2009, when the global economy began to recover from
the 2008 financial crisis. Despite continued growth,
service sector expansion touched its weakest level for a
year while manufacturing output declined marginally, at
a similar rate to the previous contraction seen in the
final quarter of 2011.
...
New export orders for emerging markets manufacturers
fell for the third successive quarter across the world’s
emerging markets, representing the strongest decline
since Q1 2009.
...
the longer-term
outlook for the services economy deteriorated to its
lowest level since the survey began in 2005.
http://www.markiteconomics.com/MarkitFiles/Pages/ViewPressRelease.aspx?ID=10190