BUDAPEST: Hungary’s seasonally-adjusted Purchasing Managers’ Index (PMI) inched up to 50.6 in December from a revised 50.4 in November, the index publisher said on Thursday.
Despite the uptick, the December reading fell substantially short of both the long-term monthly average, as well as average December levels seen in the past three years, the Association of Logistics, Purchasing and Inventory Management said.
“After the modest expansion in spring, domestic manufacturing had experienced a sustained slowdown since June, a trend, which was reversed with the November survey results and continued in December,” it said.
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Most index components increased in December, but employment, imports and exports declined, with the headline PMI figure posting its ninth-lowest December reading since 1995.
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