FX.co ★ Hungary’s Manufacturing PMI Slips Below Expansion Threshold in January

Hungary’s manufacturing sector lost momentum at the start of 2026, with the Purchasing Managers’ Index (PMI) slipping into contraction territory. The PMI fell to 49.3 in January 2026, down from 54.0 in December 2025, signaling a shift from solid expansion to a mild downturn in manufacturing activity.

The move below the neutral 50-point mark indicates that key components such as output, new orders, or employment likely weakened compared with the previous month. The December reading of 54.0 had pointed to a healthy expansion, making January’s drop notable for market participants monitoring the strength of Hungary’s industrial base.

These latest figures, updated on 2 February 2026, will be closely watched by investors and policymakers for signs of whether this decline is temporary or the start of a broader slowdown in Hungary’s manufacturing sector.