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PMI Falls to 55.3 in March (Prior: 56.3r)

HUNGARY
  • Hungary's PMI fell to 55.3 in March, down from a revised 56.3 in February, data released this morning revealed. The new orders sub-index fell from the previous month but remained over the 50-point mark.
  • Hungary is hosting a summit on LNG trade today. Speakers include Ukraine’s deputy energy minister, Hungary’s foreign minister and executives from LNG Croatia and OMV Petrom.
  • MTI report that lawmakers approved amendments to the 2023 budget act on Friday. This year's revenue target was raised to HUF 36,376bln (EUR 95.5bln) from HUF 31,074bln in the 2023 budget act approved by lawmakers last July. The new deficit target is HUF 3,400bln, widening from HUF 2,352bln.
  • There are no other major data releases scheduled today. Industrial production, retail sales and trade balance data are all on the docket later this week.
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