Israel: Business and consumer sentiment reach multi-year highs in May
Sentiment levels rose in May, according to data released by the Central Bureau of Statistics (CBS). Consumer confidence, although still firmly entrenched in negative territory, increased from minus 9.9 points in April to minus 7.2 points in May. The result marked the highest level in the history of the survey, which dates back to March 2011.
The increase in consumer sentiment reflected a broad-based improvement in consumers’ outlook on the Israeli economy. Consumers were more optimistic regarding the development of their economic situation, as well as the general economic situation of the country. Moreover, their view on the labor market improved. Sentiment was unchanged regarding households’ ability to save.
Business sentiment, in addition, improved from 21.7 points in April to 23.8 points in May.