Israel: Business conditions improve at the quickest rate in five months in December
Israel’s manufacturing sector ended 2018 on a high note as the Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Mangers Association (IPLMA) rose from 53.7 in November to 57.0 in December, the highest value in five months. As a result, the index moved further north of the critical 50-point mark separating expansion from contraction in the manufacturing sector.
The improvement in the headline figure came on the tails of noticeable improvements in output, local demand and employment. Subsequently, managers stepped up their purchasing activity as stocks of finished goods decreased somewhat. On the other hand, export demand remained in contractionary territory despite a slight improvement. This is likely linked to the global moderation in economic activity.