Israel Economic Activity August 2021


Israel: Composite State of the Economy Index growth remains broadly unchanged in August

October 6, 2021

The Bank of Israel’s Composite State of the Economy Index grew 0.28% in month-on-month seasonally-adjusted terms in August, which was above July's 0.21% increase. The Index was positively affected by increases in industrial production in July and goods imports in August. The index is calculated using the latest available data and hence uses a combination of figures from recent months to provide a comprehensive picture of the economy’s performance.

On an annual basis, economic activity increased 2.9% in August, which was below July’s 3.0% expansion and marked the worst result since March.

FocusEconomics analysts see the economy expanding 5.8% in 2021, before growing 4.3% in 2022, which is up 0.1 percentage points from last month’s forecast.

Author:, Economist

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Israel Economic Activity Chart

Israel State of Economy August 2021

Note: Month-on-month and year-on-year variations in %.
Source: Bank of Israel (BoI) and FocusEconomics calculations.

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