BUDAPEST (Reuters) -Hungary's manufacturing activity contracted in August with most sub-indices showing a decline, data from the country's Association of Logistics, Purchasing and Inventory Management
Hungarian manufacturing PMI drops to 48.9 in August
BUDAPEST (Reuters) -Hungary's manufacturing activity contracted in August with most sub-indices showing a decline, data from the country's Association of Logistics, Purchasing and Inventory Management showed on Monday.
The group's seasonally adjusted purchasing managers' index (PMI) edged down to 48.9 in August from a revised reading of 50.5 in July, and fell below the 50 mark dividing growth from contraction.
The August reading is lower than the long term average of 52.5 reported for this month, but just exceeds the average of the past three years for August recorded at 48.8.
"Our respondents reported a slight decline in manufacturing activity from the past month in August. This is the second summer month in 2025 when we have been seeing a slowdown," the publisher said.
The majority of the sub-indices declined in August. The new orders index dropped by 4.3 percentage points and the index for purchased stocks also declined.
The employment index was lower and was in contraction territory, and the index for purchase prices rose.
Both the export index and the import index declined, with the latter falling 3.4 percentage points.
(Reporting by Krisztina ThanEditing by Jason Hovet)
