Hungary's Nov PMI drops to 54.7 from 56.4 in Oct -publisher

Published on December 01, 2022 07:04 PM AEDT

Hungary's Nov PMI drops to 54.7 from 56.4 in Oct -publisher — Image source: ©2022 Kalkine Media®

BUDAPEST, Dec 1 (Reuters) - Hungary's seasonally-adjusted Purchasing Managers' Index dropped to 54.7 in November from 56.4 in October, the Association of Logistics, Purchasing and Inventory Management (MLBKT) said on Thursday.

It said the November reading came in above both the long-term monthly average of 52.7 and an average reading of 53.2 in the same month of the past three years. The 50-point mark separates growth in manufacturing from contraction.

"In general, we can say that the partial indices declined but mostly they still signalled expansion," the index publisher said.

Production volumes decreased from October but were above the 50-point mark. New orders declined but stayed above 50 points and still posted their highest November reading since 1995.

Lead times increased from October. Purchase prices declined but still signalled an "intensive and sustained increase," it said.

The export index was above the 50-point watershed for the second month running and the import index showed expansion. (Reporting by Krisztina Than)

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