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Hungary PMI rises to 54.4 in June

Hungary's seasonally-adjusted Purchasing Managers’ Index (PMI) rose to 54.4 in June from 52.3 in May, the Hungarian Association of Logistics, Purchasing and Inventory (HALPIM) announced on Friday.

Hungary's PMI has see-sawed for the past five months, falling 4.3 points in May, rising 3.1 points to 56.9 in April, falling 3.2 points to 53.8 in March and rising 2.3 points to 57.0 in February.

The PMI was 4.9 points higher than the 49.5 points in June 2010, and also higher than the 51.6 long-term June average of the series.

A PMI of over 50 indicates an expanding manufacturing sector, while a PMI below 50 indicates contraction.

Four of the PMI's five sub-indices were above 50 last month, but only three indicated improvement on May: the purchased-stocks, production-volume and new-orders sub-indices.

The latter two indices were above 50 for the 18th-consecutive month. The employment sub-index was also above 50 in June, though declined during the month as compared to May.

The delivery-time sub-index declined, indicating longer delivery times, last month as compared to May, contracting at the sub-50 level for an unprecedented 19th-consecutive month in June.

HALPIM attributed the declines in the delivery-time sub-index to the rise in overall PMI.

The HALPIM PMI index and sub-indices are based on monthly surveys of 100 supply managers at manufacturing companies in Hungary.