Hungary's PMI falls to adjusted 51.7 in November
Friday, December 1, 2006, 17:32
Hungary's seasonally-adjusted Purchasing Manager Index (PMI) fell to 51.7 in November from 54.4 in October, showing growth is slowing down, Halpim, the company which compiles the index, said on Friday.
The index value was only a fraction over the 51.6 average in November during the previous three years. The unadjusted index was 51.9 in November, falling from 56.1 in October. Average PMI for January-November was 54.0, well over the 51.3 average value during the previous three years.
A PMI over 50 reflects an expanding manufacturing sector and a PMI under 50 means the sector is contracting.
Among the indices which comprise the index, new order volume was 54.5, down 4.6 from October, and production volume fell 4.2 to 52.0. The employment index rose 1.2 to 48.9, showing a contracting employment market for the second month in a row. The transport time index fell a slight 0.1 to 48.4 from October to November, and the index of purchased inventories fell 1.9 to 51.5.