PMI’s value decreased in July

The seasonally adjusted value of the July Purchasing Managers' Index was 50.0 percent, 4.9 percentage points lower than in June – the Hungarian Association of Logistics, Purchasing and Inventory Management (MLBKT) announced on Monday.

The Purchasing Managers’ Index is a composite index value. If it is above 50 percent, it indicates an upturn in manufacturing activity, while if the index is below 50 percent it indicates a shift towards a recession. The survey is based on a questionnaire gathering information on a monthly basis, among 100 executives responsible for the manufacturing purchasings of the companies.

The current value is lower than the long-term July average (52.3), and is lower than the July average of the past three years (52.8). It is the fifth lowest monthly value since 1995. (MTI)