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PMI falls under 50 in June

Hungary's seasonally-adjusted Purchasing Managers Index (PMI) fell to 44.2 points in June from 57.1 in May, dropping under the 50-point threshold that signals expansion in the manufacturing sector, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said on Monday.

Among the PMI sub-indices, the new orders index fell from the previous month and was under the 50-point mark.

The production volume index also dropped and was below 50.

The employment index slipped and indicated a contraction for the first time in 20 months.

The delivery times index rose but stayed under 50.

The gauge of purchased inventories showed a “strong decline” and was under the 50-point mark.

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