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EM PMI’s continued to outperform DM
Weekly investor research
09 November 2020
The outperformance of EM economies widened in October, according to the Markit IHS PMI surveys. China announced it will aim to double the size of its economy by 2035 as Ali Baba delayed its IPO due to regulatory constraints. Turkey replaced both the central bank governor and the finance minister. The Brazilian Senate approved the Central Bank Independence Bill. Argentina’s finance minister said the Treasury will not request further advances from the Central Bank until the end of the year. Poland announced further mobility restrictions. Malaysia unveiled its 2021 budget with a lower fiscal deficit and a strong expected economic rebound. The IMF recommended a different fiscal policy mix for Mexico. Good news in Kenya where the IMF announced it is negotiating a new economic programme to support the country’s public finances. Economic growth surprised to the upside in Chile. Ethiopia declared a state of emergency as the military was deployed in the Tigray region.