Israel PMI October 2023

Israel: Manufacturing PMI falls in October

The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) fell to 47.6 in October from 49.2 in September. As such, the index moved further below the 50.0 no-change threshold, signaling a faster deterioration in manufacturing sector operating conditions compared to the previous month. The PMI has now been below 50.0 for five straight months.

Worse readings regarding exports, local orders and output drove the fall in the headline PMI figure, with the war having a dampening impact on overall activity. That said, the conflict also boosted defense manufacturing substantially, softening the deterioration in the headline PMI index.

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