Israel: PMI inches down in October, but remains above August's record low
November 26, 2014
The Bank Hapoalim and the Israeli Purchasing and Logistics Managers Association’s Purchasing Managers Index (PMI) inched down from 49.9 in September to 48.3 in October. Although it is still below the 50-threshold that separates contraction from expansion in the manufacturing sector, the index is far above the record low registered in August, when the country was immerse in the 50-day Gaza conflict.
October’s figure reflected a decrease in most of the components that comprise the index. Output and employment declined over the previous month, although both maintained a positive trend. Export new orders recorded the largest drop. Conversely, domestic new orders improved after four months of consecutive declines.
Author: Cecilia Simkievich, Economist