Israel Economic Sentiment January 2017


Israel: BoI State of the Economy index declines in January

February 21, 2017

In January, the Bank of Israel (BoI) Composite State of the Economy index rose 0.23% from the previous month, which was below December’s 0.35% increase and the lowest result in 16 months. January’s deceleration come on the back of a drop in consumer goods imports after an exceptional expansion in vehicle purchases at the end of 2016 and weaker results in industrial production and retail sales in December.

On an annual basis, the State of the Economy index rose 4.7% in January, down marginally from December’s 4.8% increase. The annual average variation in the index came in at 4.3% in January, which was just above December’s 4.2%.

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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Israel Economic Sentiment Chart

Israel State Economy January 2017

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

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