Israel Economic Sentiment


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.

FocusEconomics Consensus Forecast panelists expect GDP to grow 2.9% in 2015, which is up 0.5 percentage points over last month’s projection. For 2016, the panel sees the economy accelerating to 3.3% growth.

Author:, Economist

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Israel Economic Sentiment Chart

Israel State Economy January 2015

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

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