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Hungary PMI rises close to 50 threshold

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) rose to 47 points in June from 40.7 in May, continuing to improve after plunging in March because of the coronavirus outbreak, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Wednesday, 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 moderately" from May 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 a contraction for the seventh month in a row.

Delivery times were longer than in May.

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