Israel: BoI State of the Economy index slows slightly in January
February 22, 2015
In January, the Bank of Israel (BoI) Composite State of the Economy index increased 0.3% over the previous month, which was a slight deterioration over the revised 0.5% increase observed in December (previously reported: +0.3% month-on-month). The reading marked the lowest print in five months. According to the Bank, January’s slowdown mainly reflected declines in consumer goods imports, imports of manufacturing goods and services exports. The new growth figures reflect recent revisions in the Composite Index.
On an annual basis, the State of the Economy index rose 2.7% in January, which marked an improvement over the revised 2.6% increase observed in December (previously reported: +1.6% year-on-year). The annual average variation in the index inched down from 2.4% in December to 2.3% in January, which marked the lowest rate since May 2010.
Author: Cecilia Simkievich, Economist