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.
Author: Oliver Reynolds, Economist