Hungarian manufacturing sector not doing well, unlike trade

Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) rose to 45.7 points in July from 44.6 in June, remaining under the 50-point threshold that signals expansion in the manufacturing sector, Halpim, the organisation that compiles the index, said on Tuesday.

Among the PMI sub-indices, the new orders index rose from the previous month but was under the 50-point mark, Halpim reported. Last month, respondents reported price increases for packaging materials, electronic components, paint, fruit, duck meat, oil, paper raw materials and firewood.

Trade surplus widens to EUR 1.129 billion in May

Hungary’s trade balance posted a EUR 1.129 billion surplus in May, widening from EUR 366 million in April, the Central Statistical Office (KSH) said in a second reading of data on Tuesday.

The surplus was lowered from EUR 1.089 billion in the first reading released on July 10. Exports grew by an annual 6.2 percent to EUR 13.004 billion, while imports fell by 4.8 percent to EUR 11.875 billion. In the January-May period, Hungary’s exports grew by 10.7 percent year on year to EUR 63.540 billion, while imports rose by 2.6 percent to EUR 60.991 billion. The trade surplus was EUR 2.549 billion.

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