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Hungary PMI edges back over 50 threshold

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) rose to 50.8 points in July from 47.4 in June, climbing back over the 50-point threshold after plunging in the spring, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Monday, 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 and the production volume index both rose over the 50 threshold.

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

Delivery times were longer than in June.

Purchased inventories were up after contracting for five months in a row.