Israel PMI July 2018

Israel

Israel: Business conditions in Israel's manufacturing sector improve strongly in July

August 22, 2018

The Purchasing Managers’ Index (PMI)—produced by Bank Hapoalim in conjunction with the Israeli Purchasing & Logistics Managers Association (IPLMA)—jumped to 58.0 points in July from 52.6 points in June. As a result, the index moved further above the crucial 50-point threshold that separates expansion from contraction in the manufacturing sector.

July’s print reflected a strong rise in new orders, with both foreign and domestic demand picking up. In addition, output growth accelerated. However, despite increasing demand levels, employment growth softened slightly in July, while stocks of finished goods dropped. In terms of price pressures, raw material price inflation picked up in July.

FocusEconomics Consensus Forecast participants expect fixed investment to increase 6.1% in 2018, up 0.4 percentage points from last month’s forecast. For 2019, the panelists expect fixed investment to expand 5.1%.


Author:, Economist

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Israel PMI July 2018

Note: Bank Hapoalim Purchasing Managers’ Index. Readings above 50 indicate an improvement in non-oil business conditions while readings below 50 indicate a deterioration.
Source: Bank Hapoalim and IPLMA.


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