Israel Economic Activity April 2019

Israel

Israel: Economic activity index continues to show healthy growth in April

May 29, 2019

The Bank of Israel’s Composite State of the Economy Index rose 0.28% in April over the previous month, up slightly from March’s revised 0.27% growth (previously reported: +0.29% month-on-month). On a year-on-year basis, growth in the index clocked 3.7%, up slightly from March’s 3.5% reading. April’s figure points to a solid start to the second quarter.

April’s figure was underpinned by a strong labor market and imports of manufacturing inputs, along with healthy industrial production in March. The Index is calculated using the latest available data, and hence uses a combination of figures from April and March to provide a comprehensive picture of the economy’s performance.

FocusEconomics Consensus Forecast panelists expect GDP to grow 3.2% in 2019, which is unchanged from last month’s forecast. For 2020, our panelists see GDP growth at 3.4%. A new FocusEconomics Consensus Forecast will be published on 4 June.


Author:, Economist

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Israel Economic Activity Chart


Israel State of Economy April 2019 1

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


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