Composite PMI Says Emerging Market Output Expanding At Fastest Rate In 15 Months

The Markit Composite PMI for the Emerging Markets are indicating that output expanded at a greater rate in June than it had in May. The output index is at it's highest level since March 2013. New orders also increased in June and the future orders bounced back, albeit at a very high level already, from it's 25-month low. Inflation isn't on the scene yet but concerns are building as output prices have closed the gap relative to input prices.