Israel PMI May 2022

Israel

Israel: Manufacturing PMI improves in May

June 21, 2022

The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) rose to 52.6 in May from April's 51.2. May's result marked the strongest reading since October 2021. Consequently, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in business conditions compared to the previous month.

The uptick came on the back of stronger improvements in local demand, purchasing activity and new export orders. Meanwhile, output growth was stable, while employment growth eased somewhat.

FocusEconomics Consensus Forecast participants expect fixed investment to increase 7.1% in 2022, up 2 percentage points from last month’s forecast. For 2023, our panelists expect fixed investment to expand 4.1%.


Author:, Economist

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Israel PMI May 2022

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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