Hungary PMI rises near break-even point in September

An index above 50 indicates a pick-up in manufacturing activity, while a figure below 50 shows contraction. The seasonally-adjusted index fell well under 50 last October as Hungary suffered the effects of the global financial and economic crisis. It bottomed out around 38 in January before starting to improve, rising as high as 49.4 in July, before dipping slightly to 46.0 in August. The unadjusted index rose sharply to 56.4 in September from 43.7 in August because of the end of the summer season, Halpim said. Among the sub-indices that comprise the PMI, the production volume index climbed 7.6 to 52.3 in September, erasing a steep fall in August. The new order volume index rose 4.0 to 49.8, also after a drop in August. The employment index fell 1.7 to 43.7, after rising slightly in August. The index has been under 50 since May 2008. The delivery time index fell 2.8 to 48.4, showing delivery times are getting longer. The index for purchased stocks rose 3.8 to 44.7. The index bottomed out near 35 in March. Among the indices that Halpim publishes but does not include in the PMI, the purchase volume index increased 6.3 to 50.5 in September from August. The purchase price index rose 1.7 to 53.5, showing prices rose for the fourth month in a row after six months of declines. The index for stock of finished goods climbed 3.8 to 48.3. The export volume index slipped 3.6 to 51.3, but the import volume index jumped 15.1 to 58.2.

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