Hungary’s July PMI rises to 57.8 from June’s 57.0

The electric motor production hall is seen at Audi’s factory in Gyor, Hungary, July 24, 2018. REUTERS/Bernadett Szabo

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BUDAPEST, Aug 1 (Reuters) – Hungary’s seasonally adjusted Purchasing Managers’ Index (HUPMI=ECI) fell from 57.0 in June to 57.8 in July as most index components rose, said the Logistics, Purchasing and Inventory Management Association (MLBKT). In Monday.

He said July’s reading was above the long-term monthly average of 52.3 and also topped an average reading of 54.0 in the same month for the past three years. The 50 point mark separates manufacturing growth from contraction.

“The sub-components of the index all show expansion except for timeframes,” the index publisher said.

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Production volumes are up compared to June and exceed the 50 point mark. New orders are also progressing and exceed the threshold of 50 points.

Purchased inventory rose from June, and purchase prices also rose, posting very strong growth, posting its highest monthly figure since 1995, he said.

The export index declined from June but remained above the 50 mark and therefore still points to expansion. The import index also indicated an expansion.

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Reporting by Krisztina Than and Anita Komuves

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