Israel: Manufacturing PMI deteriorates in November
The Manufacturing Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the IPLMA, fell to 50.3 in November from October’s 55.4. Consequently, the index remained above the 50-threshold, pointing to a continued, albeit moderating, improvement in business conditions from the previous month.
November’s weaker reading was due to a broad-based decline in the subcomponents, with local orders in particular losing steam, and exports continuing to contract. However, firms’ purchasing activity growth accelerated.