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Hungary’s July PMI rises to 57.8 from 57.0 in June -publisher
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BUDAPEST (Reuters) – Hungary’s seasonally-adjusted Purchasing Managers’ Index rose to 57.8 in July from 57.0 in June as most of index components expanded, the Association of Logistics, Purchasing and Inventory Management (MLBKT) said on Monday.
BUDAPEST (Reuters) – Hungary’s seasonally-adjusted Purchasing Managers’ Index rose to 57.8 in July from 57.0 in June as most of index components expanded, the Association of Logistics, Purchasing and Inventory Management (MLBKT) said on Monday.
It said the July reading came in above the long-term monthly average of 52.3 and also exceeded an average reading of 54.0 in the same month of the past three years. The 50-point mark separates growth in manufacturing from contraction.
“Sub-components of the index are all showing expansion except for lead times,” the index publisher said.
Production volumes were up from June and were above the 50-point mark. New orders also grew and came in above the 50-point threshold.
Purchased stocks increased from June, and purchase prices also rose, showing very strong growth, posting its highest monthly reading since 1995, it said.
The export index declined from June but stayed above the 50 mark and thus still indicates expansion. The imports index also indicated expansion.
(Reporting by Krisztina Than and Anita Komuves)
Seasonally adjusted data accounts for predictable seasonal fluctuations in economic activity, allowing for a clearer comparison of economic performance across different time periods.
Purchased stocks refer to the inventory levels of raw materials and goods that manufacturers keep on hand. An increase in purchased stocks indicates that companies are preparing for future production increases.
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