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PMI slips to 52.9 in December

Hungary's seasonally-adjusted Purchasing Managers Index (PMI) slipped to 52.9 in December from 54.8 in November, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which published the monthly index, said.

The index fell after rising for three months in a row.

An index above 50 indicates an expansion in the manufacturing sector. An index under 50 shows a contraction.

The unadjusted index fell to 46.4 in December from 54.6 in November.

The adjusted index for December has fallen under 50 just a four times in the past 15 years, but the unadjusted index has been under 50 every year in December, Halpim said.

Among the sub-indices that comprise the PMI, the new order index fell 4.6 points to 57.8 in December from November but still showed growth for the twelfth month in a row. The production volume index dropped 1.5 points to 55.0. The employment index slipped 1.9 points to 54.4. The delivery time index inched down 0.2 point to 44.0, showing orders still took longer to arrive. The purchased stocks index rose 5.2 points to 51.9, showing a return to growth.

Among the indices that Halpim compiles but does not include in the PMI, the purchase volume index fell 2.4 to 54.2, the purchase price index was practically unchanged at 67.2, the stock of finished products index rose 2.1 points to 49.2, the import volume index dropped 3.7% to 53.0 and the export volume index dipped 4.6 points to 52.8. (MTI – Econews)