Hungary’s manufacturing activity expanded at the start of the year, after contracting in the previous month, the Hungarian Association of Logistics, Purchasing and Inventory Management reported on Monday.
The Purchasing Managers’ Index rose to 53.0 in January from 49.9 in December. Any reading above 50 indicates expansion, while a reading below 50 suggests contraction in the sector.
The majority of the surveyed sub-indices increased compared to December.
Production volumes grew for the first time in seven months in January.
The index measuring new orders rose during the month, which was the seventh highest value since January 1995.
At the same time, the sub-index for employment contributed negatively to the headline index in January.
The material has been provided by InstaForex Company – www.instaforex.com