Israel: Manufacturing PMI drops sharply in December
January 20, 2021
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), fell from 57.1 in November to 50.9 in December, the lowest reading since July. However, the index remained slightly above the neutral 50-mark, signaling improving operating conditions for the fifth straight month. December’s decrease was largely driven by a sharp decline in new exports, amid fresh lockdowns abroad, as well as milder new orders growth at home.FocusEconomics Consensus Forecast participants expect fixed investment to increase 3.7% in 2021, up 0.3 percentage points from last month’s forecast. For 2022, our panelists expect fixed investment to expand 5.0%.
Author: Oliver Reynolds, Economist