Israel Economic Activity January 2020


Israel: Economy starts 2020 on solid footing

February 23, 2020

The Bank of Israel’s Composite State of the Economy Index rose 0.25% in January compared to the previous month in seasonally-adjusted terms, down marginally from December’s 0.26% expansion. On a year-on-year basis, growth in the index clocked 3.2%, down from December’s 3.4%. The data suggests the economy began the year in a healthy fashion, likely supported by a strong labor market.

January’s month-on-month reading was supported by higher retail trade and services revenue in December, and higher exports in January. 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.

Our panelists see the economy expanding 3.1% in 2020, which is unchanged from last month’s forecast. In 2021, our panelists see the economy expanding 3.3%.

Author:, Economist

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Israel Economic Activity Chart

Israel State of Economy January 20 20

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

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