Israel Economic Activity April 2023

Israel: Composite State of the Economy Index growth is mild in April

The Bank of Israel’s Composite State of the Economy Index grew 0.12% in month-on-month seasonally-adjusted terms in April, which was above March’s 0.06% increase. This suggests moderate economic momentum by historical standards at the outset of Q2. The Index was positively influenced by increases in services revenue, consumer goods imports, goods exports and services exports. In contrast, industrial production and retail trade declined, which had a negative impact on the Index.

On an annual basis, economic activity grew 1.2% in April, which was below March’s 1.4% expansion and marking the worst result since January 2021.

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