FX.co ★ Hungary Manufacturing PMI Remains Firm in December

Hungary's seasonally adjusted manufacturing PMI edged up slightly to 53.7 in December 2025, from a revised 53.6 in November. This figure remains well above the long-term average of 52.3, indicating an ongoing expansion in the manufacturing sector. The December reading is noteworthy as it represents the highest level recorded since May 2023 and surpasses the average for December over the past three years. This period has been characterized by decelerating growth, heightened inflation following the Russian invasion of Ukraine in 2022, and a recession in 2023, which resulted in a largely stagnant economy. Most components of the index saw month-on-month increases. New orders continued to rise, maintaining their position in expansion territory. Additionally, the employment index rose above the critical 50-point threshold, signifying growth in manufacturing jobs. Meanwhile, purchase prices increased, signifying higher input costs. Both export and import indices also showed growth, suggesting an improvement in trade conditions.