PMI edges over 50 threshold

Analysis

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) rose to 50.1 points in October from 48.7 points in September, edging back over the 50-point threshold that signals expansion in the manufacturing sector, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said, according to a report by state news wire MTI.

The index had plunged in the spring because of the pandemic, but a gradual recovery lifted it back over the 50-point mark by July. It slipped back under the threshold in September, parallel with a marked rise in the number of coronavirus infections in Hungary.

In October, the new orders index rose from the previous month and remained over 50.

The production volume index fell but stayed over the 50-point mark.

The employment index showed an expansion after falling under 50 in the previous month. 

Delivery times were longer than in September.

Purchased inventories were up slightly.

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