Israel: Manufacturing PMI picks up in June
July 21, 2019
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), rose from 50.4 in May to 52.7 in June, moving further above the neutral 50-point mark separating expansion from contraction in the manufacturing sector.
The change in the headline figure was driven by stronger domestic demand, while export orders continued to shrink. The fall in exports can likely be linked to a more adverse external trading environment, and fits with soft merchandise trade data in recent months.
Author: Oliver Reynolds, Economist