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Saturday, December 02, 2006

Hungarian PMI November

Hungary's seasonally adjusted Purchasing Manager Index (PMI) dropped to 51.7 in November, this was a reduction of 2.7 from the October reading which was 54.8, according to the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM), the publisher of the index. Since any reading over 50 means that output is still expanding this is still not a contraction reading, but it is hardly good news since it means industrial output (and in particular output for exports) is slowing, just what isn't needed at this point:

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