In a sign of ongoing challenges in Hungary’s manufacturing sector, the Purchasing Managers’ Index (PMI) declined to 47.6 in August 2024, down from 48.8 in July 2024. The data, updated on 2 September 2024, indicates a further contraction in manufacturing activity as any PMI figure below 50 signals a decrease in production.The continued decline suggests that Hungarian manufacturers are facing persistent difficulties, likely influenced by a combination of domestic economic issues and broader global market turbulence. This downward trend in PMI adds to concerns about the economic outlook for the region, as manufacturing is a significant component of Hungary’s economy.Stakeholders and policymakers will be closely monitoring these figures to gauge the health of the manufacturing sector and to implement measures that could stimulate growth and reverse this contraction. As Hungary navigates these economic challenges, the coming months will be critical in determining the trajectory of its manufacturing industry.The material has been provided by InstaForex Company – www.instaforex.com
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