In second quarter, China and Brazil lead the economic slowdown in the emerging market due to the exports declined to the western developed countries, and the both governments are trying to cool the overheated economies, Reuters reported, citing statement of HSBC as saying.

According to the purchasing manager research conducted by HSBC, in future several months, economic activities may sustain the declining trend because of the optimistic mood of enterprises begins to cool. However, the ease of inflation pressure in the both countries and the high growth in India and Russia may infuse new momentum to the global economy. 

HSBC Emerging Markets Index signals that the output growth rate in global emerging market reached its top in the first quarter and then dropped to a new low in the second quarter since the third quarter of 2009.

"Most emerging markets have seen a sound economic recovery since the first half of 2009, and they finally meet resistance." said Stephen King, the primary analysts of HSBC.