Israel Economic Activity July 2023

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

The Bank of Israel’s Composite State of the Economy Index rose 0.17% month-on-month in seasonally-adjusted terms in July (June: +0.07% mom). The Index was positively influenced by increases in consumer goods imports, imports of production inputs, goods exports, employment, electricity production and credit card purchases. That said, the Index reading was still low relative to the long-run average.

On an annual basis, economic activity increased 1.2% in July, which was above June’s 1.0% expansion.

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