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PMI rises to adjusted 55.1 in August

Hungary's seasonally adjusted Purchasing Manager Index (PMI) rose to 55.1 in August from 54.1 in July, Halpim, the company which compiles the index, announced on Friday.

The index value well exceeded the 51.8 average for August of the preceding three years, and was surpassed only by the August 2000 value of 57.8 since the index has been calculated. The unadjusted index was 54.0 in August, rising from 53.8 in July.
Average PMI for was 54.2 in the first eight months of 2006, up from the 50.9 average value of the past three years, and reflecting the second biggest expansion since a January-August average of 55.9 measured in 2000.
A PMI over 50 reflects an expanding manufacturing sector and a PMI under 50 means the sector is contracting.