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.
Author: Oliver Reynolds, Economist