Bank Hapoalim: PMI for April 2012 rises above 50-point level

Many components of the index are still below 50 points although increases were recorded
 
The Israel Purchasing Managers Index (PMI) compiled by Bank Hapoalim and the Israel Purchasing and Logistics Managers Association, rose by 6.9 points, to 53.2 points in April 2012, from 46.3 points in March.
 
The index crossed the 50-point threshold between economic expansion and contraction, after four months below the threshold.
 
This level is indicative of expansion in manufacturing activity.
 
Although increases were recorded in most components of the index, many of them are still below 50 points—the level bordering between activity expansion and contraction.
 
A large increase was recorded in April in the production component, which rose by 17.9 points and reached a level of 66.6 points.
 
The Global Manufacturing Index published by JP Morgan rose to a level of 51.4 points in April. The USA remained notable for its favorable performance, with an increase to 54.8 points, the highest level in the past 10 months.
 
In European countries, however, most indexes fell and were particularly low in peripheral countries. The PMI for all Eurozone countries dropped to 45.9, the lowest level since the height of the recession in 2009.