Hungary's manufacturing purchasing manager index drops in October 2013.

By bne IntelliNews November 5, 2013

The Purchasing Manager Index (PMI) for Hungary's manufacturing industry decreased to 51 points in October 2013 from 54.5 points in the previous month, portfolio.hu reported citing the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM), which compiles the index.

A reading higher than 50 indicates expansion of the sector, while a figure below 50 shows contraction. The index has been close to the benchmark since April 2013.

Among the components comprising the overall index, production volume contracted in October snapping a four-month rising streak. Employment in the goods-making sector also decreased, while the new orders and the purchased stocks advanced in the month but at a slower pace than in September. Delivery time in October was longer than in the previous month.

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