BUDAPEST: Hungaryʼs seasonally-adjusted Purchasing Managersʼ Index (PMI) saw a fall to 50.0 points in July, down from June’s 54.9, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, reported today, according to news agency MTI.
An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction, Halpim noted, adding that the index has been over the growth threshold for more than a year. Among the sub-indices, the production volume index fell below the 50 point threshold for the first time after showing expansion for six months in a row, Halpim said.
Halpim added that the new orders index fell more substantially, to a level below the average of the past three years as well as below the long-term average measured since 1995. Halpim data suggest that the employment index rose and showed growth, delivery times were slightly longer than in June and purchased stocks contracted for the first time following two months of expansion.