Israel PMI January 2020


Israel: Manufacturing PMI falls in January

February 19, 2020

The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), fell from 51.8 in December to 50.1 in January, remaining just above the neutral 50-mark separating expansion from contraction in the manufacturing sector.

The fall in the headline figure was driven chiefly by lower export demand, as domestic demand and employment both strengthened. Bank Hapoalim economists stressed that in January the coronavirus outbreak had yet to significantly make itself felt, and that the impact on global manufacturing would become apparent from February. As such, further falls in the Israel manufacturing PMI are likely in coming months.

FocusEconomics Consensus Forecast participants project fixed investment to increase 2.1% in 2020, down 0.8 percentage points from last month’s forecast. For 2021, our panelists forecast fixed investment to expand 3.0%.

Author:, Economist

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Israel PMI Chart

Israel PMI January 20 20

Note: Bank Hapoalim Purchasing Managers’ Index. Readings above 50 indicate an improvement in manufacturing business conditions while readings below 50 indicate a deterioration.
Source: Bank Hapoalim and IPLMA.

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