The Indian economy reclaimed its top position in Mint's Emerging Markets tracker in December for the first time in five months. The stock market turmoil since August had kept India from achieving the leading position until November. China fell one place to the second rank in the EM league table. Additionally, it is one of the few countries to have already released its GDP data for the December quarter, showing a solid 5. The Philippines climbed up two places to secure the third position with a strong December quarter GDP growth of 6.
Its currency also showed a better performance compared to peers. The rankings are provisional as the scores will get updated once all latest data is available.
Methodology note: The tracker is a monthly summary of economic activity across nine large emerging markets based on seven high-frequency indicators. Latest available data is used. On each indicator, the best-performing economy gets a score of , the worst one gets zero, and the others get linearly-interpolated relative scores.
A country's composite index score is the simple average of its seven indicator scores. Earlier, the tracker had a 10th country, Russia, but it has been dropped temporarily as some data has not been reliably available since the Ukraine war began.
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