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Households spending more, as Hungary’s PMI also rises

By Tamás Székely // 2014.11.04.

Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) rose to 54.9 points in October from 52.7 points in September, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said. An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction.

The index has been over the growth threshold for more than a year. Among the sub-indices that comprise the PMI, the new orders index “rose markedly” and was over the 50 threshold.The production volume index fell but showed higher output for the twelfth month in a row. Delivery times were longer compared to September.Purchased stocks were up.

Meanwhile the per capita spending by Hungarian households on consumption also rose by 3.5% to 66,500 forints in the first half of the year from the same period a year earlier, a report by the Central Statistical Office (KSH) shows. Spending on housing and energy accounted for 24.7% of the total. Spending on food and drink made up 24.2% and spending on transport 12.7%.

via photo: Patrik Stollarz AFP – via