Israel Economic Activity April 2021

Israel: Composite State of the Economy Index growth moderates in April

The Bank of Israel’s Composite State of the Economy Index increased 0.25% in month-on-month seasonally-adjusted terms in April, which was down from March’s 0.37% growth. April’s reading was supported by a higher job vacancy rate and goods exports in April, as well as higher retail sales in March, amid the lifting of most Covid-19 restrictions. 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 economy’s performance.

On an annual basis, economic activity grew 3.8% in April, notably above March’s 1.3% expansion and marking the best result since October 2018.

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