Israel PMI June 2018

Israel

Israel: Israeli manufacturing PMI returns to expansionary territory at the close of the second quarter

July 18, 2018

The Purchasing Managers’ Index (PMI)—produced by Bank Hapoalim in conjunction with the Israeli Purchasing & Logistics Managers Association (IPLMA)—jumped to 52.6 points in June from 49.6 points in May. As a result, the index moved back above the crucial 50-point threshold that separates expansion from contraction in the manufacturing sector.

June’s increase was driven by a rise in accrual purchases and faster employment growth, likely due to robust domestic demand and production output. Foreign demand, however, contracted on the back of a drop in exports of electronic components. Inventories of finished goods and raw materials continued to decline, albeit at a more moderate pace. Raw material price inflation eased in June.

FocusEconomics Consensus Forecast participants expect fixed investment to increase 5.7% in 2018, down 0.6 percentage points from last month’s forecast. For 2019, the panelists expect fixed investment to expand 5.2%.


Author:, Economist

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Israel PMI June 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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