Israel: Manufacturing conditions deteriorate further in January
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) dropped to 20-month low of 42.9 in January, down from December’s 47.8. Consequently, the index moved further below the 50-threshold, signaling a quicker deterioration in business conditions from the previous month.
January’s downtick was largely due to a contraction of new orders. Furthermore, employment levels dropped in January.