Israel: Manufacturing PMI improves in February
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) jumped to 49.7 in February from January’s 42.9. Consequently, the index moved closer to the 50.0 no-change threshold, signaling a softer deterioration in business conditions compared to the previous month.
February’s reading was driven by rebounds in employment, output, stocks of raw materials and local orders, while cost pressures eased somewhat but remained elevated nonetheless.