Sixth lowest monthly PMI in Hungary since 1995
The Hungarian Association of Logistics, Purchasing, and Inventory Management (Halpim) said on Monday that the seasonally adjusted PMI in Hungary (purchasing managers index) stood at 47.6 points in October, down from 49.4 points in September.
PMI in Hungary
Halpim said that the PMI was below the 50-point threshold, which signals expansion in the manufacturing sector.
Among the PMI sub-indices, the new orders index fell and was under the 50-point mark.
The production volume index declined but still indicated expansion.
The employment index rose but continued to show a contraction.
The delivery times index rose.
The gauge of purchased inventories slipped and was still under the 50-point mark.
PMI in Hungary comparison with older data:
- The index of production volume fell this month, with a reading above 50 points indicating an expansion in production volume, the sixth lowest reading this month since 1995. The index for new orders fell, the third lowest monthly reading since 1995.
- The delivery lead time index increased compared to September. Looking at the monthly values so far this month, this is the ninth lowest since 1995.
- The Purchased Stocks index decreased, again below 50.0 points, showing a contraction. This month’s index is the eighth lowest since 1995.
- The employment index increased and is also showing contraction this month. The index value is the twelfth lowest this month.
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Maybe some facts and data to make (manufacturing) PMI come alive, a bit:
https://tradingeconomics.com/hungary/manufacturing-pmi
Hungary is in recession and the PMI number is an indicator that this will continue further rather than end sooner. Orbanistan is in economic trouble. Child tax benefits that are normally issued in August before the start of the school year were delayed until late September. The government is delaying payments as a coping mechanism for being broke. Eventually that bit of rope runs out and the government starts cutting payments for various things and they can pass any law or regulation by decree to do it. Meanwhile they are spending millions of euros abroad that could be spent in Hungary where families and the poor are suffering. The economic mismanagement is quite bad.