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.
Author: Oliver Reynolds, Economist