Israel: Manufacturing PMI rises in November

The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), increased from 54.9 in October to 57.1 in November, the highest reading since July 2018. The index thus moved further above the neutral 50-mark, signaling improving operating conditions for the fourth straight month. November’s increase was largely driven by stronger new orders growth.

FocusEconomics Consensus Forecast participants expect fixed investment to increase 3.4% in 2021, down 0.1 percentage points from last month’s forecast. For 2022, our panelists expect fixed investment to expand 4.7%.