Israel Economic Activity January 2023

Israel: Composite State of the Economy Index bounces back in January

The Bank of Israel’s Composite State of the Economy Index increased 0.05% in month-on-month seasonally-adjusted terms in January, which contrasted December’s 0.06% decrease. Service revenue, retail revenue and external sector indicators had a negative effect on the Index. In contrast, electricity production and credit card purchases had a positive impact on the Index.

On an annual basis, economic activity rose 2.1% in January, which was below December’s 2.5% expansion and marking the worst result since January 2021.

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