Israel PMI January 2024

Israel: Manufacturing PMI increases in January

The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) came in at 50.8 in January, up from December’s 49.2. January’s result marked the strongest reading since March 2023, and reflected reduced war-related disruption to economic activity in the month. As such, the index rose above the 50.0 no-change mark, signaling an improvement in manufacturing sector operating conditions from the previous month. That said, statistical office data shows that overall industrial production in December—the latest available month of data—remained around 4% lower than its pre-war level.

The headline print reflected improvements in local demand and output. In contrast, purchasing activity fell more sharply due to shipping disruptions in the Red Sea, and exports continued to decline.

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