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