Israel: Manufacturing PMI falls in March
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) came in at 51.5 in March, down from February’s 52.3. As a result, 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 strong domestic new orders growth being partly offset by weaker export orders. Meanwhile, the expansions in output and raw material purchases slowed in March, while employment fell at a sharper rate than in the prior month.