Israel: Economic activity growth is moderate in July
August 20, 2019
The Bank of Israel’s Composite State of the Economy Index rose 0.19% in July, matching June’s revised reading (previously reported: +0.23% month-on-month). On a year-on-year basis, growth in the index clocked 3.0%, matching June’s figure.
July’s reading was supported by stronger goods exports and a higher vacancy rate in the month, and growth in retail sales and services revenue in June. However, a fall in industrial production in June weighed on the index. 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.
Author: Oliver Reynolds, Economist