Significant boost in Hungary’s trade balance, PMI points to contraction – UPDATE
The Central Statistical Office (KSH) said in a second reading of data on Monday that Hungary had a 1.7 billion euro trade balance surplus in April, expanding from 1.6 billion in March.
Trade balance in Hungary
KSH says exports rose by an annual 9.2 percent to 12.5 billion euros, while imports slipped by 2.9 percent to 10.8 billion.
The volume of exports to the EU-27 Member States became 11% higher, and that of imports from there increased by 12%. The trade balance of the external trade in goods improved by EUR 16 million, generating a surplus of EUR 1.4 billion. Trade with other European Union member states accounted for 76 percent of Hungary’s exports and 75 percent of its monthly imports.
Hungary’s terms of trade improved by 1.7 percent during the period as the forint weakened 4.4 percent against the euro and 6.8 percent to the dollar.
For January-April, Hungary had a trade surplus of 5.6 billion euros. Exports fell by 3.9 percent to 49.0 billion, and imports declined by 12.3 percent to EUR 43.4 billion.
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UPDATE
Hungary PMI points to contraction in June
Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) stood at 49.4 points in June, down from 51.3 points in May, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said on Monday.
The PMI was below the 50-point threshold that signals expansion in the manufacturing sector.
Among the PMI sub-indices, the new orders index fell but was over the 50-point mark.
The production volume index dropped and indicated stagnation.
The employment index declined and continued to show a contraction.
The delivery times index rose.
The gauge of purchased inventories decreased but was over the 50-point mark.
Outstanding news! Onward and upward! This is the best way to strengthen the economy!
Mike ain’t you listening the talk at our meetings, the growing figure in our government to pay out or service ?
You know we are FUCKED just covering up facts of the disaster our party have got us into to.
Best just keep moving forward to the next plan we discussed the next city you and the wife are moving to.
Watch the “line’ tapping thing advised from the chair last meeting.
The Jan-April statistics of both contracting exports and highly contracting imports is terrible and is reflected in the below 50 PMI which indicates manufacturing contraction. A trade surplus in Hungary’s case means that Hungarians can’t afford to buy anything which reduces imports. Hungarians are going further into poverty. Steiner is clueless.
Uhm. @michaelsteiner. These numbers are actually quite alarming?
Even if you´d want to spin this data – uphill battle. Probably why there´s no grandstanding Politicians, opining.