FX.co ★ Hungary Factory Activity Returns to Contraction

In January 2026, the HALPIM Manufacturing PMI decreased to 49.3, retreating from a revised high of 54 seen the previous month, marking a return to contraction after four months of expansion. This dip brought the index below its long-term monthly average of 52.6 and the January three-year average of 49.8. There was a notable decline in new orders, a reduction in production volumes, and a slight contraction in employment, all indicating significant weakness within the sector. While export and import activities softened, both remained above the 50-point mark, which delineates growth from contraction.