BUDAPEST, June 2 (Reuters) - Hungary’s seasonally adjusted Purchasing Managers’ Index rose to 40.3 in May from 33.7 in April, the index publisher said on Tuesday, adding however that despite the increase the May reading was still the lowest for the month.
The Association of Logistics, Purchasing and Inventory Management said the May index was significantly below both a multi-year May average of 52.8 and an average of 57.1 in the past three years.
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 fourth successive month, while the employment indicator pointed to continued labour market weakness.
The import indicator and export indicators both stayed far below 50 points, the publisher said. (Reporting by Gergely Szakacs)