Report: Manufacturing recovers in Hungary, Poland
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Manufacturing in the region, in particular Hungary and Poland rebounded significantly last month, well above most economists’ forecasts, according to a report published in the Financial Times today.
Hungary’s purchasing managers index (PMI) reached 54.8, according to FT, which cited data from financial information services provider Markit. This was an improvement over January’s PMI of 53. Poland also rebounded from a seven-month low reaching 52.8 versus the drop to 50.6 predicted earlier by economists, FT reported.
Markit’s senior economist Trevor Balchin said the outlook was promising for both countries, however, a vulnerability to external factors remains a concern, FT reported.
Hungary’s PMI has not been above 50 since last April, and has in fact been below the 50-point mark for nearly every month in the past six years.
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