Israel Economic Activity November 2019

Israel: Economic activity growth dips slightly in November but stays solid

The Bank of Israel’s Composite State of the Economy Index rose 0.24% in November compared to the previous month in seasonally-adjusted terms, down from October’s 0.28% expansion. On a year-on-year basis, growth in the index clocked 3.2%, down marginally from October’s 3.3%.

November’s reading was supported by stronger industrial production and services sector data for October, but was held back by lower imports and exports of consumer goods in November. 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.

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