MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

MNI: ITALY NOV MANUF PMI 44.5 (FCST 46.0); OCT 46.9

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

HUNGARY: Moody’s Lowers Hungary’s Outlook; Manufacturing PMI Unexpectedly Rises

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary
  • Moody’s Ratings lowered the outlook of Hungary’s debt to negative from stable, citing weaker governance that risks losing grants and low-cost loans from the EU. It affirmed Hungary’s rating at Baa2.
  • Moody’s noted that their decision reflects “downside risks related to the quality of Hungary's institutions and governance” which ultimately risks “a substantial amount of the envisaged European Union funds because it does not meet the conditions for the release of these funds.”
  • Separately, Hungary's manufacturing PMI rose to 50.3 in November from revised 47.9 in October, according to data from Halpim. That’s above expectations of a contraction to 47.5 and marks the first print above the expansionary 50 threshold since May.
  • Meanwhile, a final reading of data showed Hungary’s trade surplus at EUR 949m in September, a narrower surplus compared to the preliminary reading of +EUR 1.233bn.
  • The final reading of Q3 GDP, retail sales, trade balance, industrial production data and NBH minutes are all due for release later in the week.
159 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Moody’s Ratings lowered the outlook of Hungary’s debt to negative from stable, citing weaker governance that risks losing grants and low-cost loans from the EU. It affirmed Hungary’s rating at Baa2.
  • Moody’s noted that their decision reflects “downside risks related to the quality of Hungary's institutions and governance” which ultimately risks “a substantial amount of the envisaged European Union funds because it does not meet the conditions for the release of these funds.”
  • Separately, Hungary's manufacturing PMI rose to 50.3 in November from revised 47.9 in October, according to data from Halpim. That’s above expectations of a contraction to 47.5 and marks the first print above the expansionary 50 threshold since May.
  • Meanwhile, a final reading of data showed Hungary’s trade surplus at EUR 949m in September, a narrower surplus compared to the preliminary reading of +EUR 1.233bn.
  • The final reading of Q3 GDP, retail sales, trade balance, industrial production data and NBH minutes are all due for release later in the week.