Israel: Manufacturing PMI records worst reading since June 2020 in July
The Manufacturing Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the IPLMA came in at 46.8 in July, down from June’s 51.5. July’s result marked the worst performance since June 2020. Consequently, the index dropped below the 50-threshold, signaling a deterioration in business conditions from the previous month.
July’s reading was driven by contractions in local orders, export orders and production, likely influenced by the rise in Covid-19 cases globally and supply disruptions.