PMI drops to 56.6% in October

The index jumped to 65.2% in September as the economy returned to full productivity following the war. D&B noted that October generally shows slower economic activity due to the Jewish holidays.

Industrial activity slipped from its post war high in October as the Purchases Managers Index (PMI) dropped 8.6 percentage points to 56.6%, research company Dun & Bradstreet said Monday. PMI values above 50% reflect growth. D&B economists said they expect productivity to continue to grow through the year despite the month's decline. While all components in the index were negative for the month, D&B said the decrease was spurred by the steep 15.5 percentage-point drop in local demand and a 13.9-point slide in manufacturing production. The index jumped to 65.2% in September as the economy returned to full productivity following the war. D&B noted that October generally shows slower economic activity due to the Jewish holidays.