Israel Economic Activity March 2019

Israel

Israel: Economic activity index continues to show solid momentum in March

April 30, 2019

The Bank of Israel’s Composite State of the Economy Index rose 0.29% in March over the previous month, down slightly from February’s revised 0.33% growth (previously reported: +0.32% month-on-month). On a year-on-year basis, growth in the index clocked 3.1%, up slightly from February’s 3.0% reading. Over Q1 as a whole, economic activity readings point to a robust GDP outturn.

March’s figure was underpinned by strong goods exports and consumer goods imports in the month, along with healthy industrial production in February. The Index is calculated using the latest available data, and hence uses a combination of figures from March and February 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 expect GDP growth to remain unchanged at 3.2%.


Author:, Economist

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Israel Economic Activity Chart


Israel State of Economy March 2019

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


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