Israel purchasing managers' index rises to 59 in November 2010

Port2port News Service
Dec 21, 2010

The report noted that "The index points to an expansion in activity over the past four months, which is especially noticeable the last two months"

Bank Hapoalim and the Israeli Purchasing and Logistics Managers Association’s Purchasing Managers Index (PMI) increased by 1.4% points in November, to a level of 59 points, its highest level since April 2010 and the fourth straight monthly increase.

The report noted that "The index points to an expansion in activity over the past four months, which is especially noticeable the last two months". The report added that an improvement in the exports' component was of particular interest given that exports have been declining according to foreign trade data. "It's possible the PMI index is signalling that the decline in exports could end in the coming months," it said.

The index is calculated based on the responses to six questions provided by purchasing managers at leading industrial companies in the Israeli economy. The methodology for computing the index is consistent with the prevalent methodology worldwide for the calculation of purchasing managers' indices. The Israeli index is included in the calculations of the European and global purchasing managers' indices