Emerging market economic growth managed to hang on to much of its momentum over August according to the latest release of the IHS Markit Emerging Market Composite PMI index. The August reading indicated that emerging market economies stayed in expansion territory for the third month in a row for the first time since the spring of last year. Growth in developed economies, while still in expansion territory, continued to be challenged with the current pace of expansion materially lower than the pace seen at the turn of the year.