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Hungary PMI falls to 53.3 in April

Analysis

Hungaryʼs seasonally adjusted Purchasing Managersʼ Index (PMI) fell to 53.3 points in April, down from a revised 56.6 points in March, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Wednesday.         

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

In its original data release on April 3, Halpim said the PMI stood at 57.0 points in March, but it revised its number to a lower value in the Wednesday release.  

Online economic news site vg.hu noted that this yearʼs April value exceeded the long-term April average of 52, but remained below the average of 54.2 in the last three years.  

In April, among the sub-indices that comprise the PMI, the production volume index was down from March but remained above the 50 mark for the 32nd month in a row.

The new orders index also decreased but remained above 50 points, showing an expansion of new orders. The current figure was slightly above average.

Delivery times were longer than in March and the sub-index was below 50. Purchased stocks increased in April for the sixteenth month in a row. 

The employment sub-index was above 50 and showed expansion, as it has been doing for the past year.

The index for procurement volume rose compared to March, exceeding the average of the last three years and remaining above 50, while the procurement price index likewise showed an increase in April, also remaining above 50, indicating a continued rise in prices.

Of the external market indicators, the import index rose from March, remaining above 50. Vg.hu noted that thanks to seasonal adjustments, the index reveals 34 months of continuous growth in import volume. 

The export index likewise increased compared to March, with the value of above 50 indicating a more rapid pace of expansion of export volume.

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