Emerging markets have shown signs of economic slowdown, after a period of rapid and protracted growth, according to HSBC’s monthly purchasing mangers’ index (PMI).

Economies including China, Brazil and India which have seen economic growth rates as high as 10 percent in the past, have reported a reduction in their growth, with emerging markets PMI reaching its lowest rate since August 2012.

The recent report reflects the impact of slow growth in mature markets, with emerging markets relying on demand from developed nations to bolster growth. Areas including manufacturing and service industries have been hit by reduced demand for exports.

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