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HUNGARY: Manufacturing PMI Unchanged in May at 51.8

HUNGARY
  • Hungary's manufacturing PMI was unchanged at 51.8 in May from April, and slightly below estimates of 52.0.
  • "Hungary's ratings, including its Baa2 long-term issuer ratings, are supported by a diversified economy with robust growth outlook, and the authorities' commitment to gradual fiscal consolidation which should help to reduce the comparatively high government debt burden over the coming five years," Moody's said on Friday at a periodic review of the ratings of Hungary.
  • Credit trends since the last rating action in September 2023, when Moody's affirmed Hungary's Baa2 ratings and maintained the stable outlook, "have been overall consistent with Moody's expectations", the rating agency said.
  • Looking ahead, the final reading of 1Q GDP data, industrial production and retail sales figures will all cross later in the week.

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