Israel Economic Activity December 2017


Israel: Economic activity broadly stable in December

January 22, 2018

In December, the Bank of Israel’s (BoI) Composite State of the Economy Index rose 0.32% on a month-on-month basis, moderating slightly from November’s revised 0.33% rise (previously reported: +0.25% month-on-month). Available external-sector data suggested that December’s increase was driven largely by stronger imports of consumer goods and production inputs, which were offset by weaker goods exports. Moreover, lagging data for November showed gains in the industrial and services sectors in the month.

On an annual basis, growth in the index was stable from a month earlier at 3.3% in December, following a revision to November’s result (previously reported: +3.1% year-on-year).

FocusEconomics Consensus Forecast panelists expect GDP to grow 3.4% in 2018, which is unchanged from last month’s forecast. For 2019, our panelists expect GDP growth to tick down to 3.2%.

Author:, Economist

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Israel Economic Activity Chart

Israel State of Economy December 2017

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

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