Israel: Composite State of the Economy Index growth speeds up in April
The Bank of Israel’s Composite State of the Economy Index grew 0.18% month-on-month in seasonally-adjusted terms in April (March: +0.09% mom). April’s reading was aided by the rapid improvement in the labor market, recovering tourism flows and the disappearing impact of the pandemic. April’s figure was positively impacted by higher exports and consumer goods imports in the month, as well as a record job vacancy rate.
On an annual basis, economic activity rose 2.3% in April, which was below March’s 2.7% expansion and marked the worst result since March 2021.