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.
Author: Jan Lammersen, Economist