Gold prices add to record high amid fiscal, tariff concerns
Investing.com -- Hungary’s manufacturing activity contracted in August as most sub-indices showed a decline, according to data released Monday by the country’s Association of Logistics, Purchasing and Inventory Management.
The seasonally adjusted purchasing managers’ index (PMI) fell to 48.9 in August from a revised 50.5 in July, dropping below the 50 mark that separates growth from contraction.
The August reading came in below the long-term average of 52.5 typically recorded for this month. However, it slightly exceeded the average August reading of 48.8 observed over the past three years.
The data indicates a reversal from the expansion seen in July, with most components of the index showing deterioration in August.
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