Hungary's PMI drops below 50 in October
Hungary's seasonally adjusted Purchasing Managers Index (PMI) fell to 48.2 in October from 50.8 in September, the Hungarian Association of Logistics, Purchasing and Inventory (HALPIM) announced on Wednesday.
The index dropped for the second time in the past three months, and was low both compared to the previous months and to Octobers in previous years. PMI indicated steady expansion in the manufacturing sector between July 2010 and April this year, and a slowdown since May.
A PMI of over 50 indicates an expansion of the manufacturing sector compared to the preceding month, while a PMI of below 50 indicates contraction of the sector.
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