Israel: Manufacturing PMI ticks up in October
November 17, 2020
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), increased from 53.5 in September to 54.9 in October, the highest reading since December 2018. The index thus moved further above the neutral 50-mark, signaling improving operating conditions for the third straight month. Most components of the index improved in October, although export orders contracted, likely on renewed restrictions abroad.FocusEconomics Consensus Forecast participants expect fixed investment to increase 3.5% in 2021, up 0.1 percentage points from last month’s forecast. For 2022, our panelists expect fixed investment to expand 4.6%.
Author: Oliver Reynolds, Economist