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Hungary's PMI 49.6 in May, reflecting contraction first time since December

Hungary's seasonally adjusted Purchasing Managers Index (PMI) dropped to 49.6 in May from 51.6 in April, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which published the index, announced.

The index slipped below 50, reflecting a contraction, for the first time since December.

An index of below 50 indicates contraction in manufacturing activity, while an index of above 50 indicates expansion.

The index indicated growth in the sector in the first four months of this year after continuous contraction between August 2008 and December 2009. The index peaked at 56.0 in February and dropped since. (MTI – Econews)