Israel: Manufacturing PMI rises in September
October 25, 2022
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) rose to 51.3 in September from August's 49.5. Consequently, the index rose above the 50.0 no-change mark, signaling an improvement in manufacturing sector operating conditions from the previous month.
The headline print reflected stronger growth in local orders, output and employment, while exports contracted at a softer rate than in August. Israel’s manufacturing PMI readings compare favorably to those of other developed economies, likely aided by strong domestic demand and relatively mild energy prices in Israel thanks to the country’s domestic gas production.
Author: Oliver Reynolds, Economist