D&B Israel: Procurement Managers Index indicates expansion slowing

The D&B Israel Procurement Managers Index for May was published last week. The index compiled by the Israel Purchasing and Logistics Managers Association and D&B Israel, indicates that expansion in the Israeli manufacturing sector was slowing.
 
The index according to D&B fell from 55.7% in April 2005, its highest level in the past 6 months, to 54.6% in May, a 1.1% decrease.
 
In a written statement the Purchasing Managers Association and D&B Israel said that, since March 2005, the Procurement Managers index trend had been towards expansion. The recovery was due to recovery in both export & domestic demand.
 
The index reached a six-month peak last April, but the expansion trend has now slowed, mostly as a result of weaker export demand and lower manufacturing productivity.