Israel: Manufacturing PMI deteriorates in January
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) came in at 53.9 in January, down from December’s 56.9. As such, the index remained above the 50.0 no-change threshold, pointing to a continued, albeit moderating, improvement in manufacturing sector operating conditions from the previous month.
The headline print reflected weaker growth in exports, new local orders and output. In contrast, employment expanded. The Israeli manufacturing sector is performing well by international standards, aided by comparatively moderate domestic energy prices and the strength of the domestic economy.