Israeli manufacturing PMI falls into contraction territoryStaff Writer | June 28, 2018
The Purchasing Managers’ Index (PMI)—produced by Bank Hapoalim in conjunction with the Israeli Purchasing & Logistics Managers Association (IPLMA)—fell to 49.6 points in May, down from 54.0 in April.
Israel Output growth moderated markedly
The result came chiefly on the back of weakening domestic demand, as foreign demand was unchanged—despite declining industrial exports—and employment gains were strong.
Due to softer local demand, output growth moderated markedly and stocks of finished goods increased.
FocusEconomics Consensus Forecast participants expect fixed investment to increase 6.3% in 2018, up 0.8 percentage points from last month’s forecast. For 2019, the panelists expect fixed investment to expand 5.1%. ■