Hungary's seasonally-adjusted Purchasing Manager Index (PMI) rose to 54.5 in September from 53.5 in August, showing growth is picking up, Halpim, the company which compiles the index, announced.
The index value exceeded the 52.1 average in October during the previous three years. The unadjusted index was 56.1 in October, falling from 59.5 in September. Average PMI for January-October was 54.2, well over the 51.3 average value during the same period in 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 sub-indices comprising the index, new order volume was 59.2, up 1.9 from September, and production volume rose 2.1 to 56.3. The employment index fell 4.0 to 47.7, showing a contracting employment market for the first time in eight months. The transport time index fell 0.3 to 48.5 from September to October, and the purchased inventories fell 3.6 to 53.4.
Among the indices Halpim publishes but does not include in the PMI, the indicator for the stock of finished goods fell 2.6 to 49.2 from September to October. The export volume index fell a marked 6.7 to 58.1, but it still exceeded the import index, which fell 0.9 to 54.8. The purchase price index rose 1.2 to 73.0, and the purchase volume index fell 1.8 to 54.8.