Israel: Manufacturing PMI records worst reading since July in December
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) fell to 47.8 in December from November’s 50.3. December’s result marked the worst reading since July. Consequently, the index dropped below the 50-threshold, signaling a deterioration in business conditions from the previous month.
December’s reading was due largely to a contraction in output and softer growth in purchasing activity. Moreover, employment growth eased somewhat.