Israel: Manufacturing PMI hits one year high in March
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) came in at 51.0 in March, up from February’s 49.1. March’s result marked the best performance since March 2023. As a result, the index rose above the 50.0 no-change mark, signaling an improvement in manufacturing sector operating conditions from the previous month. The result also shows that the economic impact of Israel’s war on Hamas is gradually lessening.
The headline print reflected improvements in local demand, output and employment, though export orders continued to decrease.