Russia, China and India are marginally improving, while Brazil is contracting. However, considering the relative contribution of these countries to the global economy, they are still trending to the downside but so far no bottom falling out as some have feared. Russia is stabilizing at a lower level and China is purposefully cooling.
True Economics
BRIC Services & Composite PMIs: April 2015
Constantin Gurdgiev
But overall, we have some encouraging signs of stabilisation in the economy. The signs are still fragile and manifested through moderating rate of contraction signalled in Manufacturing and a marginal rate of growth in Services, with both manifesting over only one month to-date. In other words, we will need much more positive data to confirm any potentially developing upside trend.
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