Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) fell to 52.3 in May from 56.7 in April, reflecting a continued, albeit slowing, expansion, the Hungarian Association of Logistics, Purchasing and Inventory Management (MLBKT), which published the monthly index, said on Wednesday.
The worst index since September last year, it still exceeded the average May values of 49.2 in the previous three years and was level with the May average of the 15 years since the index has been calculated.
An index above 50 indicates an expansion in the manufacturing sector, and under 50 shows a contraction.
Output and new orders came in slower than in April. Output grew for the 17th consecutive month, registering the best period since between July 2005 and June 2007. New orders increased for the 12th consecutive month, which is the longest stretch since July 2005 to June 2008. New export orders grew for the 18th consecutive month, but growth was also slower than in April.
Manufacturers’ delivery times lengthened again, but at a slower pace than in April.
Input price inflation, while slowing, remained relatively fast. Input prices have not decreased now for 21 months, MLBKT said.
Employment grew for the 8th consecutive month. The employment index was at an all-time May high.
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