Israel Economic Sentiment

Israel

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

December 21, 2014

In November, the Bank of Israel (BoI) Composite State of the Economy index increased 0.1% over the previous month. November’s reading mirrored October’s result and marked the fourth consecutive month in which the index has recorded a 0.1% rise. According to the Bank, November’s increase mainly reflected a substantial increase in job vacancies. Conversely, the index was negatively affected by a deterioration in the foreign trade sub-component.

In November, the State of the Economy index rose 1.4% on an annual basis, which was slightly less than the 1.5% increase tallied in October. The annual average variation in the index inched down from 2.4% in October to 2.2% in November.

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:, Economist

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