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The current economic conditions in large markets China, India, Brazil, and Mexico are all challenging. In particular, consumers, who have been the driving force of the emerging markets' recent growth, show weaknesses in both China and India. With weak domestic consumption and deteriorating export demand, growth in industrial production remains subdued, and the short-term outlook for the manufacturing sector is not promising. Overall, The Conference Board Leading Economic Index® (LEI) signals no significant improvement in the near-term outlook for emerging markets.