FX.co ★ Hungary Factory Activity at 4-Month Low

The HALPIN Manufacturing PMI edged down to 50.2 in May 2026 from a downwardly revised 50.4 in April, its lowest reading since January and below the long-term monthly average of 52.6. Growth in both new orders and output softened, with export demand also weakening. Purchasing activity continued to rise but at a slower rate, while inventories kept building. At the same time, employment showed signs of recovery after a setback in the previous month, pointing to a moderate improvement in hiring conditions. Input costs remained on a strong upward trajectory, though the pace of price increases eased relative to April. Supplier delivery times stayed stretched, underscoring persistent supply chain pressures. Overall, the manufacturing sector remained in expansion, but activity was still running below its historical May average, signaling a more subdued pace of growth across the industry.