Industrial activity crept back from "the edge of a slowdown" toward further expansion in August, with the purchase managers index (PMI) adding 6.4 percentage points to 56.5%, from 50.1% in July, Dun & Bradstreet Israel said yesterday. Values above 50% reflect growth.
Following a "steep drop" in local demands for industrial products, industrial-sector employment and industrial output caused by the war, all key components in the index saw "significant improvement" by the end of August, the business research firm said. Local demand added 12.9 points to 55.4% from 42.5% in July, returning to growth after war-time contraction, as did the employment component, which grew 11.2 points to 58.9% from 47.7%. The growth of export demand, however, slowed somewhat to 59.5% in August from 61% in July.