Israel Economic Activity June 2022


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.

FocusEconomics analysts see the economy expanding 4.7% in 2022, which is down 0.2 percentage points from last month’s forecast, and 3.6% in 2023.

Author:, Economist

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Israel Economic Activity Chart

Israel State of Economy June 2022

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

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