PMI falls to 54 points in July

Analysis

Hungary's seasonally adjusted Purchasing Manager Index (PMI) fell to 54.0 in July from 55.4 in June, Halpim, the company which compiles the index, announced on Thursday.

The index value was well above the 51.7 average for July of the preceding three years. The unadjusted index was 53.8 in July, slipping from 56.6 in June mainly because of smaller increases shown by the new order and production volume sub-indices.
A PMI over 50 reflects an expanding manufacturing sector and a PMI under 50 means the sector is contracting.
Average PMI for January-July was 54.7, showing the biggest expansion during the period since 2000. Among the sub-indices comprising the index, new order volume was 55.3, down 3.8 from June, and production volume was 55.4, down 2.6. The employment index continued to rise, increasing 2.2 to reach 53.9, its highest level since September 2002. The transport time index fell 1.2 to 48.9 from June to July, and the purchased inventories index rose 4.3 to 62.4.

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