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Hungary PMI rises well over 50 threshold in January

Hungary's seasonally-adjusted Purchasing Managers Index (PMI) climbed to 55.9 in January from 49.1 in December, rising over the 50 threshold between contraction and expansion, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Friday. Among the sub-indices that comprise the PMI, the new orders index "rose sharply" and showed growing new order stock for the third time in six months. The production volume index rose over the 50 threshold in January. The employment index also showed expansion after registering under the 50 threshold in July, August, October and December. Delivery times were longer in January, but the pace of the index's fall slowed.