Israel Economic Sentiment August 2016


BoI State of the Economy index inches up in August

In August, the Bank of Israel (BoI) Composite State of the Economy index increased 0.17% over the previous month, which was slightly above July’s reading of 0.15%. The index in August was positively impacted by a higher job vacancy rate, while both exported and imported goods provided a negative contribution, according to the Bank.

On an annual basis, the State of the Economy index rose 2.6% in August, which was slightly down from the 2.7% increase observed in the previous month and marked the lowest reading since May 2015. The annual average variation in the index inched down from 2.8% in July to 2.7% in August.

FocusEconomics Consensus Forecast panelists foresee the economy growing 2.6% in 2016, which is unchanged from last month’s estimate. For 2017, the panel projects that the economy will expand 3.0%.

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Israel Economic Sentiment Chart

Israel State Economy August 2016

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

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