Israel: BoI State of the Economy index rises in December
January 22, 2017
In December, the Bank of Israel (BoI) Composite State of the Economy index rose 0.45% from the previous month, which was above November’s 0.34% increase and the highest result in 27 months. December’s increase was fueled by a spike in consumer goods imports due to an exceptional expansion in vehicle purchases, while imports of manufacturing goods fell and goods exports were flat compared to November.
On an annual basis, the State of the Economy index rose 4.0% in December, up marginally from November’s 3.9% figure (previously reported: 3.7%). The annual average variation in the index came in at 3.7% in December, which mirrored November’s print.
Author: Oliver Reynolds, Economist