Hungary’s PMI falls to 29 points in March

Hungaryʼs seasonally-adjusted PMI reading fell to 29.1 points in March from 50.3 points the previous month, according to the Hungarian Association of Logistics, Purchasing and Inventory Management. The weak performance has been attributed to the coronavirus outbreak. A PMI reading above 50 signifies growth in the manufacturing sector, while a reading below 50 points to a slowdown. The new orders index and the production volume index both failed to hit 50 points, as did the employment index. Purchased inventories were also down for the second month in a row after 37 months of growth, according to the Hungarian Association of Logistics, Purchasing and Inventory Management.