Israel: Manufacturing PMI rises to over one-year high in May
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) rose to 52.9 in May from April’s 50.9. May’s result marked the strongest reading since January 2023. As such, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing sector operating conditions compared to the previous month.
May’s improvement was driven by stronger readings for employment, raw material purchases, and local orders, and is a sign that manufacturing activity is normalizing following the dip in momentum in Q4 due to the Hamas war.