Israel: Economic activity index continues to signal robust growth in February
The Bank of Israel’s Composite State of the Economy Index rose 0.31% in February over the previous month, down from January’s revised 0.37% uptick (previously reported: +0.28% mom) but still pointing to healthy economic momentum. February’s figure was underpinned by strong exports—despite flagging global growth—and robust industrial production, retail trade and services revenue in January. The Index is calculated using the latest available data, and hence uses a combination of figures from January and February to provide a comprehensive picture of the economy’s performance.
On a year-on-year basis, growth in the index clocked 3.1% in February, up marginally from January’s 3.0%.