Slowing growth in Hungary’s manufacturing sector indicate the fallout from euro zone fragility is having the impact many expected. Combining the weak economy of Europe with the crisis in Ukraine and economic decline in Russia, Hungary’s PMI index came in at just 50.7 compared to 55.0 in November. That was worse than the 52.8 percent expected by market analysts polled by Reuters. It’s worrying to economists that the country’s malaise hasn’t been mitigated by falling oil prices, which are reducing costs for industry and consumers alike. The forint has also been weakening, moving above 317 to the euro while hitting a new low against the dollar at 263.
