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.
Author: Jan Lammersen, Economist