Israel Economic Sentiment February 2017


Israel: BoI State of the Economy broadly stable in February

March 22, 2017

In February, the Bank of Israel (BoI) Composite State of the Economy index rose 0.31% from the previous month, which was marginally below January’s 0.32% increase. February’s reading was a mixed bag: the latest industrial production data showed a deceleration in output growth and a decrease in job vacancies, while but service and retail trade rebounded from a slump in the previous month. Growing imports pushed the index up, while falling exports dragged on the overall picture.

On an annual basis, the State of the Economy index rose 4.9% in February, down slightly from January’s 5.0% increase.

FocusEconomics Consensus Forecast panelists foresee the economy growing 3.3% in 2017, which is unchanged from last month’s estimate. For 2018, the panel projects that the economy will also expand 3.3%.

Author: Marlène Rump, Senior Data Analyst

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