The Israel Manufacturing PMI rose to 52.7 in October of 2018 from 50 in the previous month. The reading pointed to the strongest growth in factory activity since July, as output (50.8 from 49.1 in September) and employment (52.8 from 48.7) jumped into expansion territory. Also, new export orders (56.9 from 54.6); raw material (65.6 from 57.1) and delivery times for both imports (38.1 from 35.4) and domestic (43.4 from 38.8) increased. On the other hand, new domestic orders (53.7 from 54.4) and finished goods (54.5 from 57.8) declined. Manufacturing Pmi in Israel averaged 50.84 from 2003 until 2018, reaching an all time high of 67.20 in December of 2016 and a record low of 27.80 in December of 2008.
Manufacturing Pmi in Israel is expected to be 54.20 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Israel to stand at 52.55 in 12 months time. In the long-term, the Israel Manufacturing Pmi is projected to trend around 51.00 in 2020, according to our econometric models.