Hungary PMI edges up to 52.8 in August

Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) rose to 52.8 points in August from 51.1 points in July, continuing to improve after plunging in the spring because of the pandemic, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Tuesday.

An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction. The index rose back over the 50 threshold in July.

Among the sub-indices that comprise the PMI, the new orders index and the production volume index both continued to rise after passing the 50-point mark in July.

The employment index rose over 50 after eight months of contraction.

Delivery times were longer than in July.

Purchased inventories were up for the second month in a row after contracting for five consecutive months.

• Despite the virus and the economic decline, Hungarian wages still increase

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Source: MTI