Israel PMI July 2021

Israel

Israel: Manufacturing PMI records worst reading since June 2020 in July

August 23, 2021

The Manufacturing Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the IPLMA came in at 46.8 in July, down from June's 51.5. July's result marked the worst performance since June 2020. Consequently, the index dropped below the 50-threshold, signaling a deterioration in business conditions from the previous month.

July’s reading was driven by contractions in local orders, export orders and production, likely influenced by the rise in Covid-19 cases globally and supply disruptions.

FocusEconomics Consensus Forecast participants expect fixed investment to increase 6.0% in 2021, down 0.1 percentage points from last month’s forecast. For 2022, our panelists expect fixed investment to expand 4.4%.


Author:, Economist

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Israel PMI July 2021

Note: Bank Hapoalim Purchasing Managers’ Index. Readings above 50 indicate an improvement in manufacturing business conditions while readings below 50 indicate a deterioration.
Source: Bank Hapoalim and IPLMA.


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