Hungarian manufacturing contracts for fourth month, PMI data shows
BUDAPEST, Oct 1 (Reuters) -Hungary's manufacturing activity contracted for a fourth straight month in September, data from the country's Association of Logistics, Purchasing and Inventory Management showed on Tuesday.
The group's seasonally adjusted purchasing managers' index (PMI) HUPMI=ECI edged up to 49.7 in September from a revised reading of 47.7 in August, but stayed below the 50 mark dividing growth from contraction.
"Our respondents reported further contraction from the past month in September. Following the moderate expansion in the spring, we have been seeing a slowdown since June," the publisher said.
The majority of the sub-indices grew in September and five out of 10 showed growth, the publisher said. The production volumes index stayed in growth while the index for purchased stocks also rose.
The employment index was lower and stayed in contraction territory, and the index for purchase prices dropped, signalling a slower increase in prices.
The export index was below the 50-point mark, showing contraction, while the import index showed growth.
Reporting by Anita Komuves
Editing by Jason Hovet
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