Israel Economic Sentiment June 2017

Israel

Israel: BoI State of the Economy index rises slightly in June

July 23, 2017

The Bank of Israel’s (BoI) Composite State of the Economy index increased 0.32% on a monthly basis, which is above the previous month’s revised 0.25% growth (previously reported: +0.28% month-on-month) and indicates continued expansion of economic activity. Looking at the details, the job vacancy rate was steady in June, while imports of consumer goods fell at a more moderate pace than in May. However, a significant decrease was recorded in imports of manufacturing inputs, excluding fuels.

In annual terms, the State of the Economy index grew 4.4% in June, which is slightly below May’s revised 4.6% growth (previously reported: +4.8% year-on-year) and the lowest reading since March 2016.

FocusEconomics Consensus Forecast panelists foresee the economy growing 3.3% in 2017, which is unchanged from last month’s estimate. For 2018, the panel projects that the economy will expand 3.4%.


Author:, Economist

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Israel Economic Sentiment Chart


Israel State of Economy June 2017 0

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


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