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Hungary's PMI reading rose from 56.8 points in August to 59.3 points in September, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) announced on October 2, signalling that Hungarian manufacturing remains on a solid footing.
Any figure above the 50.0 threshold denotes expansion, thus the figure pointed to an ongoing overall improvement in business conditions in the country’s manufacturing industry. The August PMI was the third largest for the month since Halpim began tracking data.
After a dip in the index in July, the PMI returned to its previous range of 56-57 points in the last 12 months, analysts said. The sub-indices production, new orders all moved upwards and remained comfortably above the break-even 50 points.
The employment index rose and remained over the 50 threshold and reached its highest level for the month since 1995. This signals continuous demand for labour
The index has now signalled expansion for 25 straight months. Economic sentiment remains at peaks as expectations in construction and industry hit new highs.
The strong PMI readings and rising business confidence in the manufacturing sector is reflected by strong growth of Hungary's industrial production, albeit the locally-compiled survey is not seen as a reliable guide to eventual industrial output and activity continues to show erratic tendencies.
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