Israel: Composite State of the Economy Index growth remains broadly stable in June
The Bank of Israel’s Composite State of the Economy Index grew 0.19% in month-on-month seasonally-adjusted terms in June, which followed May’s 0.20% increase. The Index was positively influenced by increases in retail trade goods exports, electricity production and credit card purchases.
On an annual basis, economic activity rose at a faster rate of 1.2% in June (May: +1.0% yoy).
Taken together, Index data for Q2 as a whole suggests a further solid expansion in GDP in the period, as predicted by our panelists.