PMI rises to 57% in January

January's growth primarily reflected a sharp rise in local demand (to 61% from 50.1% in December), following contraction the month before.

arrow up biz 88 (photo credit:)
arrow up biz 88
(photo credit: )
Dun & Bradstreet Israel said the purchasing managers index (PMI) rose 1.3 percentage points to 57% in January, from 55.7% in December, indicating expansion in Israel's production sector for the third straight month. Values above 50% indicate growth in the production market. January's growth primarily reflected a sharp rise in local demand (to 61% from 50.1% in December), following contraction the month before. The rise was tempered by drops in production outputs and export demand (falling 0.2 points and 6.3 points to 63% and 54.4%, respectively). The index's employment element rose 2 points to 56.7%, indicating that demand for workers in the production sector continued to grow for roughly two years straight, while the price element surged 9.8 points to 70.4% and inventory purchases rose 4.8 points to 55%.