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Hungary PMI recovers a bit in April after March plunge

Analysis

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) rose to 33.6 points in April after plunging to 28.5 in March on the impact of the coronavirus pandemic, Hungarian news agency MTI reports, citing data by the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim).

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 but were still under the 50-point mark.

The employment index also rose, but was under 50 for the third month in a row.

Delivery times were longer than in March.

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

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