Israel Economic Activity April 2022

Israel

Israel: Composite State of the Economy Index growth speeds up in April

June 1, 2022

The Bank of Israel’s Composite State of the Economy Index grew 0.18% month-on-month in seasonally-adjusted terms in April (March: +0.09% mom). April’s reading was aided by the rapid improvement in the labor market, recovering tourism flows and the disappearing impact of the pandemic. April’s figure was positively impacted by higher exports and consumer goods imports in the month, as well as a record job vacancy rate.

On an annual basis, economic activity rose 2.3% in April, which was below March’s 2.7% expansion and marked the worst result since March 2021.

FocusEconomics analysts see the economy expanding 5.1% in 2022, which is unchanged from last month’s forecast, before growing 3.6% in 2023.


Author:, Economist

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Israel Economic Activity Chart


Israel State of Economy April 2022

Note: Month-on-month and year-on-year variations in %.
Source: Bank of Israel (BoI) and FocusEconomics calculations.


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