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HUNGARY: Manufacturing PMI Rises to 49.7 in September

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
  • Hungary's manufacturing PMI rose to 49.7 in September from a revised 47.7 in August, according to data from Halpim.
  • Meanwhile, Hungary's final trade surplus in July came in at EUR167m (prelim. +EUR203m), according to the Central Statistical Office, marking a year-to-date low for the series. Imports rose 4.6% m/m while exports fell 3.6% m/m.
  • As a reminder, Prime Minister Orban said in an address to parliament yesterday that Hungary’s government prefers higher economic growth and lower borrowing costs but respects “100%” the central bank’s independence to set interest-rate policy. He added that the government targets a deficit of 4.5% of GDP this year and 3-6% economic growth next year.
  • Looking ahead to the rest of the week, industrial production figures for August provide the highlight on Friday (Est: -2.8% Y/Y; Prior: +0.2% M/M).
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  • Hungary's manufacturing PMI rose to 49.7 in September from a revised 47.7 in August, according to data from Halpim.
  • Meanwhile, Hungary's final trade surplus in July came in at EUR167m (prelim. +EUR203m), according to the Central Statistical Office, marking a year-to-date low for the series. Imports rose 4.6% m/m while exports fell 3.6% m/m.
  • As a reminder, Prime Minister Orban said in an address to parliament yesterday that Hungary’s government prefers higher economic growth and lower borrowing costs but respects “100%” the central bank’s independence to set interest-rate policy. He added that the government targets a deficit of 4.5% of GDP this year and 3-6% economic growth next year.
  • Looking ahead to the rest of the week, industrial production figures for August provide the highlight on Friday (Est: -2.8% Y/Y; Prior: +0.2% M/M).