Israel Economic Sentiment July 2016


Israel: BoI State of the Economy index remains broadly stable in July

August 21, 2016

In July, the Bank of Israel (BoI) Composite State of the Economy index increased 0.17% over the previous month, which was slightly below June’s reading of 0.20%. The index in July was negatively impacted by decreases in consumer goods imports and goods exports while imports of manufacturing inputs provided a positive contribution, according to the Bank.

On an annual basis, the State of the Economy index rose 2.3% in July, which was slightly down from the 2.4% increase observed in the previous month and marked the lowest reading since February 2015. The annual average variation in the index inched down from 2.6% in June to 2.5% in July.

FocusEconomics Consensus Forecast panelists foresee the economy growing 2.6% in 2016, which is down 0.1 percentage points from last month’s estimate. For 2017, the panel projects that the economy will expand 3.1%.

Author: Marlène Rump, Senior Data Analyst

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Israel Economic Sentiment Chart

Israel State Economy July 2016 0

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

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