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%.