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Manufacturing PMI Rises to 45.7; Trade Surplus Widens in May

HUNGARY
  • Hungary's seasonally-adjusted PMI rose to 45.7 in July from 44.6 in June, remaining under the 50-point expansionary threshold. Among the sub-indices, the new orders index rose from the previous month but was under the 50-point mark. The production volume index also increased and climbed over 50. The employment index rose 2.4 ppts to above 50.
  • Hungary's trade balance posted a EUR1.129bln surplus in May, widening from EUR366m in April, the Central Statistical Office said in a second reading of data on Tuesday. The surplus was higher than the EUR1.089bln in the preliminary reading released on July 10. Exports grew by an annual 6.2% while imports fell by 4.8%.
  • There is little else in the way of notable domestic news flow. Looking ahead to the rest of the week, the following data is of note:
    • 04/08: Industrial Production Data (Est: -5.3% y/y; Prior: -4.6%)
    • 04/08: Retail Sales Data (Est: -9.6% y/y; Prior: -12.3%)
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