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Hungary PMI rises sharply to 49.2 in July

Hungary's seasonally-adjusted Purchasing Managers Index (PMI) was 49.2% in July, up 3.2 percentage points from June, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which publishes the index, said on Monday.

The sharp improvement in July came after a 0.4 percentage point rise in June.

The seasonally-adjusted index fell well under 50 last October as Hungary suffered the effects of the global financial and economic crisis. It bottomed out at 38.5 in January before starting to improve.

The unadjusted PMI increased to 50.1 in July from 49.2 in June.

With the exception of two component indices, all other indices were in negative territory in July, though several of them were only slightly lower than 50, which indicates no change.

Among the sub-indices that comprise the PMI, the production volume index rose 6.0 to 51.5, and the new order volume index climbed 4.2 from June to 49.8 in July. The employment index was up 2.2 at 44.4 and the delivery time index decreased 4.7 to 49.8, showing delivery times are getting longer. The index for purchased stocks rose 5.4 to 46.7. The index bottomed out near 35.0 in March.

Among the indices that Halpim publishes but does not include in the PMI, the purchase volume index inched up 1.4 from June to 46.0 in July. The purchase price index remained unchanged at 50.7. The index for stock of finished goods increased 3.2 to 43.1. The export volume index slipped 1.0 to 49.8 and the import volume index rose 1.0 to 45.0, the highest value since October. (MTI-ECONEWS)