Israel PMI August 2020

Israel

Israel: Manufacturing PMI moves into expansionary territory in August

September 15, 2020

The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), increased from 49.8 in July to 53.1 in August, moving above the neutral 50-mark and signaling improving operating conditions for the first time since January. August’s increase was driven by stronger employment.

Looking ahead, manufacturing will likely take a hit from the second lockdown imposed in September, even though some sectors—such as the manufacturing of food and cleaning products—are exempt from the new measures.

FocusEconomics Consensus Forecast participants expect fixed investment to decrease 8.8% in 2020, up 0.1 percentage points from last month’s forecast. For 2021, our panelists expect fixed investment to expand 4.4%.


Author:, Economist

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Israel PMI August 20 20

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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