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PMI points to contraction in June

Hungary's seasonally-adjusted Purchasing Managers Index (PMI) stood at 49.4 points in June, down from 51.3 points in May, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said on Monday.

The PMI was below the 50-point threshold that signals expansion in the manufacturing sector.

Among the PMI sub-indices, the new orders index fell but was over the 50-point mark.

The production volume index dropped and indicated stagnation.

The employment index declined and continued to show a contraction.

The delivery times index rose.

The gauge of purchased inventories decreased but was over the 50-point mark.

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