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EU Budget Commissioner to Meet Orban; Manufacturing PMI Rises to 61.9

HUNGARY
  • EU Budget Commissioner Johannes Hahn is set to meet Hungarian Prime Minister Viktor Orban and members of his cabinet today in Budapest, where they are expected to discuss European fund payments.
  • Timing for the meeting is yet to be announced but the event can be seen on the European Commission's calendar (click here to see)
  • Hungary's manufacturing PMI rose to 61.9 in April from revised 56.0 in March, according to data released this morning. The figure had been expected to moderate to 53.7. Among the sub-indices, the new orders index rose from the previous month and remained over the 50-point mark.
  • Producer prices fell 1.2% m/m in March versus -2.2% in February. The yearly figure rose 21.7% versus +29% prior.
  • A second reading of data showed that Hungary posted a trade surplus of EUR581m in February, raised from EUR513m in the first reading in early April. Exports rose by an annual 11.5% while imports increased by 4.3%.
  • Industrial production (Est: -2.9% y/y) and retail sales figures (Est: -13.6%) are on the docket on Friday.
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