Israel: Business conditions continue to improve in November amid resilient local demand
December 19, 2018
In November, the Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA) rose to 53.7 in November from 52.7 in October. As a result, the index moves further north of the crucial 50-point mark that separates expansion from contraction in the manufacturing sector. The headline reflected stronger domestic demand offsetting a drop in foreign demand; a significant acceleration in output growth; stronger job creation; and a reduction in the stocks of finished goods.FocusEconomics Consensus Forecast participants expect fixed investment to increase 4.8% in 2019, down 0.4 percentage points from last month’s forecast. For 2020, the panelists expect fixed investment to expand 4.4%.
Author: Jan Lammersen, Economist