Hungary manufacturing PMI fall 6 percentage

Following a leap in January, Hungary's purchasing manager index plummeted to 50.6 points in February.

The Hungarian Association of Logistics,
Purchasing and Inventory Management (HALPIM), the publisher of the
index said: The slowdown following the dynamic up tick in early 2008
indicates a converse tendency compared to the previous year".

The rate of the February growth was smaller than in the same
month of 2007 (54.7), when the January increase was followed by an
even bigger rise.

The February value shows a smaller
performance improvement than the average of the same month of the
past three years (51.5). The average performance of the
January-February period (53.6) signals a smaller growth than in
Jan-Feb 2007 (54.3), but is still 1.9 ppts above the average of the
same period of the past three years (51.7).
Altogether, the
February performance of the manufacturing industry turned out to be
worse than in the previous years, while the average performance of
the past two months was better than the average of the same period
previously. Decelerating growth characterized most of the sub-indices
in February, as well.