Israel: Manufacturing PMI remains in contractionary territory in February
March 25, 2021
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), dipped from 49.5 in January to 49.4 in February, remaining below the neutral 50-mark and signaling worsening operating conditions. February’s decrease was largely driven by weaker momentum in output and employment, while new exports continued to contract, albeit at a milder pace than in January.FocusEconomics Consensus Forecast participants expect fixed investment to increase 5.8% in 2021, up 1.7 percentage points from last month’s forecast. For 2022, our panelists expect fixed investment to expand 4.6%.
Author: Oliver Reynolds, Economist