Israel: Economic activity index slumps in July
Latest reading: The Bank of Israel’s Composite State of the Economy Index decreased 0.64% month-on-month in seasonally adjusted terms in July (June: -1.62% mom). The sharp decline was due to the fallout from the Iran-Israel war, which caused slumps in retail, industry and trade. However, the July reading is calculated using data from prior months, and could be revised up ahead as more indicators for the month of July become available.
On an annual basis, economic activity fell 2.1% in July, which was greater than June’s 1.3% fall and marking the worst result since August 2024.