Israel Economic Activity October 2021

Israel

Israel: Composite State of the Economy Index picks up in October

November 25, 2021

The Bank of Israel’s Composite State of the Economy Index grew 0.25% month-on-month in seasonally-adjusted terms in October (September: 0.05% mom). The improved reading was driven by the ebbing of the fourth wave of the Covid-19 pandemic, and was positively impacted by higher services revenues in September, and a record job vacancy rate in October. 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 rose at a quicker rate of 3.8% in October (September: +2.8% yoy), the best result since April.

FocusEconomics analysts estimate the economy expanding 4.4% in 2022, up 0.1 percentage points from last month’s forecast, before growing 3.7% in 2023.


Author:, Economist

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Israel State of Economy October 2021 0

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


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