PMI drops to 56.3% in October

D and B said the decrease was spurred by the steep 22.5% drop in local demand, while export demand stabilized compared with September showing a 0.1% dip in October.

Industrial activity slowed down in October as the Purchasing Managers' Index (PMI) dropped 7.4 percentage points in October to 56.3% from 63.7% due to falling domestic demand following the Jewish holiday season, research company Dun & Bradstreet Israel reported on Wednesday. While the majority of components in the index were negative over the month of October, D&B said the decrease was spurred by the steep 22.5% drop in local demand, while export demand stabilized compared with September showing a 0.1% dip in October.