PMI: A slowdown for the fifth consecutive month

Although the index rose 0.2% from 46.7% in July to 46.9% in August, it is still below the 50% threshold
 
Bank Hapoalim said last week that Israel Purchasing and Logistics Managers Association's Procurement Managers Index (PMI) indicates a slowdown for the fifth consecutive month. The Procurement Managers Index is one of the important indices that can predict changes in growth trends.
 
The bank noted that although the index rose 0.2% from 46.7% in July to 46.9% in August, it is still below the 50% threshold that demarcates the difference between economic expansion and contraction.
 
The bank also noted that in August, two components of the PMI, manufacturing output and employment, rose above the 50% threshold.