Israel Economic Activity November 2022

Israel: Composite State of the Economy Index growth dips in November

The Bank of Israels Composite State of the Economy Index increased 0.07% month-on-month in seasonally-adjusted terms in November (October: +0.21% mom). The Index was positively affected by increases in the service revenue index and the retail trade revenue index in October, employment in September and credit card purchases in November. 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 economys performance.

On an annual basis, economic activity rose 2.3% in November, which was below Octobers 2.5% expansion and marking the worst result since January 2021.

Taken together, data for October and November suggests ongoing mild economic growth in Q4, in line with our panelists forecasts.

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