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Hungary PMI continues to improve after pandemic plunge

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) rose to 40.3 points in May from 33.7 in April, continuing to improve after plunging in March on the impact of the coronavirus pandemic, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Tuesday, according to a report by state news wire MTI.

An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction.

Among the sub-indices that comprise the PMI, the new orders index rose "strongly" from April but was still under the 50-point mark.

The production volume index also climbed from the previous month but remained below the 50-point threshold.

The employment index rose, but still showed contraction for the sixth month in a row.

Delivery times were longer than in April.

Purchased inventories were down for the fourth month in a row after expanding for a period of 37 months.