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PMI falls to 56.6% in March
Daniel Kennemer
04/25/2006
The production sector's labor component rose to 60.1% from 56.2%.
Dun & Bradstreet Israel said the purchasing managers index (PMI) fell 1.2 percentage points to 56.6 percent in March, from 57.8% in February, indicating slower expansion in Israel's production sector. Values above 50% indicate growth. March's reduced expansion rate was attributed primarily to a sharp decline in domestic demand, which fell to 51% from 58.7% in February and forced Israeli factories to reduce production outputs (whose index component slipped to 60.1% from 61.5%), despite a rise in export demand to 64% from 60.5%. The production sector's labor component rose to 60.1% from 56.2%.
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