Following an end-winter fall, Hungary's purchasing manager index edged up by 0.2 ppts to 52.7 in April, the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM), the publisher of the index, has reported on Monday.
A PMI index figure above 50 indicates expansion while a figure below 50 shows contraction in economic activity. The index has been above 50 points for nearly three years.
The rate of the April growth, which is not an overly high figure historically, and thus signals a not too rosy business environment, was smaller than in the same month of 2007 (57.5), and is the smallest number detected in the same months of the past three years.
The April value shows a weaker performance improvement than the average of the same months of the past three years (54.3). The average performance of the January-April period (53.1) was down 3.2 ppts from the same period of last year. This year, only the first month showed a bigger growth than the corresponding months a year earlier.
It is good news, however, that the growth at new orders (53.6) was larger than a month ago. While the index is up by a mere 0.2 ppts from March, it may still be regarded as a favourable development in view of the fact that order data in other statistics have generally showed contraction this year.
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