The seasonally adjusted PMI settled at 57.6 points in March, which means that the economy has accelerated significantly.
The Hungarian Logistics, Purchasing and Inventory Company (MLBKT) Compared to the previous March, this year’s figure is higher than March’s long-term average (51.8 points) and the past three-year average (43.4 points).
Most of the surveyed sub-indices are up compared to February. The rate of change was 5 percentage points in almost all cases (except for two) and up to 10 percentage points in one case.
After another increase in the index in February (53.8 points), the value of the index has improved and continues to show expansion. Sub-indices have changed more than they did in February, with two exceptions.
The volume of new orders continued to expand dynamically, and the pace of the indicator of the volume of stocks purchased also strengthened. The pace of expansion in the sub-indices of production and employment remained. The value of transit lags again remained very low and indicated an increase in lags for many respondents, and the pace was stronger than in the previous month.
The production volume index rose compared to its value in February, and remained above 50 points, indicating an increase in production for the thirteenth time. Since 1995, it is now the third highest value of the index in March.
The index of new orders rose, and the value in March was no higher than it has been since 1995.
Delivery lead times in March were longer than in February, and the pace increased slightly. The index value has been below nearly 50.0 points throughout 2020 and 2021. Looking at the values so far in March, this year is the lowest since 1995.
The index of bought stocks rose, and remained above 50.0 points, it is expanding for the eleventh time after a month-long contraction, at a stronger pace than in February. This year’s index value is the highest since March 1995.
The employment rate also indicates growth in March for the sixth time in a month. The value of the index is lower than it was in February and can be considered above average.
The value of the index rose in the case of purchase prices, and a stay above 50.0 points indicates a very strong increase in prices, according to respondents. The current pace since 1995 is the highest in March.
Among the indicators of foreign markets, the value of the import index increased compared to February and remained above 50.0 points. A similar process can be said for exports.
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