Both the export demand and domestic demand components of the index rose in July to reach a 16-month high
The Israeli Procurement Managers Index for July 2009 was stable at 51.7%. Bank Hapoalim and the Israel Purchasing and Logistics Managers Association's which compile the monthly index, noted that this is the second consecutive month that the index has been above the 50% threshold denoting economic growth.
In a detailed statement the Bank Hapoalim noted that both the export demand and domestic demand components of the index rose in July to reach a 16-month high.
The jobs component also rose, and is nearing the 50% threshold. The industrial output component, fell back below the threshold.
The Israel Procurement Managers Index strongly correlates trends in corresponding indices in leading economies.
JP Morgan's global Procurement Managers Index has also reached the 50% level for the first time since June 2008. the JP Morgan PMI shows widening of economic activities in the USA, the UK and the EU block.
July 2009 Procurement Managers Index denoting economic growth
Both the export demand and domestic demand components of the index rose in July to reach a 16-month high
24.08.09 / 00:00
•
More articles that may interest you
UBS: Israeli economy to grow at a rate of 2.7% in 2010
Zim Los Angeles makes first call at Seattle
Syrian Customs Authority caught goods from Israel
Maersk Line to Raise Rates for Cargoes Moving from Israel
D&B: H1N1 Flu could cost Israel's economy NIS 35b
High Tech exports leading Israeli economic recovery
More news from Industry & Trade Section
>MOU signed between Israel's Customs Directorate and Azerbaijan State Customs Committee/10.08.09
>Israel - Indonesia chamber of commerce was set up to boost bilateral business ties/10.08.09
>July car sales jumped 42% compared to July 2008/10.08.09
>July tax revenues hit highest level in two years/10.08.09
>Agrexco: export of organic fruit, vegetables up/10.08.09
>CBS: Q2 exports to US up/27.07.09
>BOL: State of the Economy Index up 0.2% in June/27.07.09
>PM's Office: Joint Govt. Private Sector Fund for Investments in the Minorities Sector/27.07.09
>Israel to implement ISPM 15 wood packaging treatment rules on Oct. 1/20.07.09
>Jerusalem is one of the most preferred destinations among tourists/20.07.09