Israel: Composite State of the Economy Index rebounds in June
June 27, 2022
The Bank of Israel’s Composite State of the Economy Index expanded 0.05% in month-on-month seasonally-adjusted terms in June, which contrasted May's 0.10% decrease. June’s figure was driven by higher manufacturing imports in the month, and stronger industrial production and services revenue in May. 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 more moderate pace of 1.8% in June (May: +2.1% yoy), the worst result since March 2021.
Author: Oliver Reynolds, Economist