Israel Economic Activity January 2018


Israel: Economic activity down marginally in January

February 21, 2018

In January, the Bank of Israel’s (BoI) Composite State of the Economy Index rose 0.28% on a monthly basis, moderating slightly from December’s downwardly revised 0.30% rise (previously reported: +0.32% month-on-month). Available external-sector data suggested that January’s easing was driven by sharply lower imports of production inputs and consumer goods. Stronger monthly growth of goods exports, however, moderated the deceleration. Moreover, lagging data for December showed weakness in the industrial and services sectors as last year drew to a close.

On an annual basis, growth in the index was stable from December at 3.5%.

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 January 2018

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

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