FX.co ★ Hungary Factory Activity Slips Further Into Contraction

In June 2025, the HALPIM Manufacturing PMI decreased to 48.9, down from a revised figure of 49.8 in May. This marks the second consecutive month of contraction, as the index fell below its long-term monthly average, yet it still surpassed the average levels for June over the past three years. Most of the subcomponents experienced a decline compared to the previous month. The employment index continued to show negative results, and new orders further dropped below the critical 50-point threshold. On the pricing front, purchase prices decreased, reflecting a slower pace of input cost inflation. External demand presented mixed signals; export orders remained below the neutral level, while import activity was on an upward trajectory.