July 1, 2020 / 7:01 AM / a month ago

Hungary's June PMI rises to 47.0, still lowest monthly reading

BUDAPEST, July 1 (Reuters) - Hungary’s seasonally adjusted Purchasing Managers’ Index rose to 47.0 in June from a revised 40.7 in May, the index publisher said on Tuesday, adding that the June reading was still the lowest on record for the month.

The Association of Logistics, Purchasing and Inventory Management said the June index was lower than even the June reading during the global financial crisis and Hungary’s political turmoil in 2009.

The 50-point mark separates growth in manufacturing from contraction.

Production volumes and new orders rose but both stayed below the 50-point watershed. The index of purchased stocks fell for the fifth successive month, while the employment indicator pointed to continued labour market weakness.

The import indicator and export indicators both stayed below 50 points, the publisher said. (Reporting by Marton Dunai)

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