Israel Economic Sentiment July 2017


Israel: BoI State of the Economy index inches up in July

August 20, 2017

In July, the Bank of Israel’s (BoI) Composite State of the Economy index rose 0.24% on a monthly basis, slightly below the previous month’s revised 0.28% expansion (previously reported: +0.32% month-on-month). July’s print indicates a continued steady expansion of economic activity. Looking at the monthly result in more detail shows that the increase was chiefly driven by greater imports of consumer goods, which more than offset a decline in goods exported.

In annual terms, the State of the Economy index grew 3.6% in July, which was slightly below June’s revised 3.8% growth (previously reported: +4.4% year-on-year) and the lowest reading since January 2016.

FocusEconomics Consensus Forecast panelists foresee the economy growing 3.4% in 2017, which is up 0.1 percentage points from last month’s estimate. For 2018, the panel projects that the economy will expand 3.5%.

Author:, Economist

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Israel Economic Sentiment Chart

Israel State of Economy July 2017

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

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