Israel: PMI picks up in September
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) rose to 49.2 in September from 48.1 in August. As such, the index moved below below the 50.0 no-change threshold, signaling a softer deterioration in manufacturing sector operating conditions compared to the previous month. The PMI has now been below 50.0 for four straight months.
Improved readings regarding exports, employment and output drove the uptick in the headline PMI figure, while readings for new orders worsened.