Israel Economic Activity April 2024

Israel: Composite State of the Economy Index dips in April

The Bank of Israel’s Composite State of the Economy Index declined 0.15% month-on-month in seasonally adjusted terms in April (March: +0.18% mom). The Index was positively influenced by increases in goods imports, the job vacancy rate, credit card purchases, the services revenue index, and the retail trade revenue index. Conversely, declines in the import of consumption goods and manufacturing inputs, the Industrial Production Index, and services exports negatively influenced the index.

On an annual basis, economic activity fell 2.1% in April, which was below March’s 1.8% fall.

As a result, the economy remains smaller than it was before war with Hamas broke out last October.

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