Signs of stabilisation in the BRIC economies

Growth in the emerging world’s largest economies, the BRICs, appears to have stabilised afterslowing at the start of the year. The official data from China show GDP growthedging up in Q2 on the back of targeted stimulus measures. In Russia, growth looks to have beenflat after a slowdown in Q1, while a decent run of monthly data have provided someencouragement in India. Only in Brazil do conditions still appear to be getting worse. Over the pastcouple of years the slowdown in the BRIC economies has been the main cause of weakness in theoverall performance of the emerging world, so even a bottoming out in their growth rates would bea welcome development.