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.