Israel Economic Sentiment


Israel: BoI State of the Economy index improves in May

June 22, 2015

In May, the Bank of Israel (BoI) Composite State of the Economy index increased 0.29% over the previous month, which was a slight improvement over the 0.22% increase observed in April. According to the Bank, the index in May was positively impacted by an increase in the import of consumption goods index as well as an improvement in the job vacancy rate.

On an annual basis, the State of the Economy index rose 3.5% in May, which was up from the 3.3% increase tallied in the previous month and marked the fastest rise since August 2012. The annual average variation in the index inched up from 2.6% in April to 2.7% in May, the highest value in seven months.

FocusEconomics Consensus Forecast panelists expect GDP to grow 2.9% in 2015, which is up 0.5 percentage points over last month’s projection. For 2016, the panel sees the economy accelerating to 3.3% growth.

Author:, Senior Economist

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Israel Economic Sentiment Chart

Israel State Economy April 2015

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

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