Israel: Manufacturing PMI falls into contractionary territory in January
February 17, 2021
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), fell from 50.9 in December to 49.5 in January, moving slightly below the neutral 50-mark and signaling worsening operating conditions. January’s decrease was largely driven by weaker momentum in new orders, exports and employment, potentially amid lockdowns abroad.FocusEconomics Consensus Forecast participants expect fixed investment to increase 4.1% in 2021, up 0.4 percentage points from last month’s forecast. For 2022, our panelists expect fixed investment to expand 5.0%.
Author: Oliver Reynolds, Economist