FX.co ★ Hungary Manufacturing Growth Moderates in October

In October 2025, the HALPIM Manufacturing PMI decreased to 51 from a revised figure of 51.6 in September, indicating a deceleration in the expansion of Hungary's manufacturing sector. Both new orders and production saw more moderate growth compared to the previous month, with their corresponding indices declining to 51.1 and 51.7. This suggests a slight decrease in demand and output. Conversely, employment conditions showed improvement, as the employment index increased to 50.8, marking a return to expansion after several months of contraction and hinting at initial signs of recovery in the manufacturing labor market. Supply-side conditions have also shown stabilization, with improved delivery lead times reaching 47.7 and continued inventory restocking activity represented by a purchased inventories index of 56.7, as supply chains gradually return to normal.