Israel Economic Sentiment June 2017

Israel

Israel: Business confidence inches down in June while consumer confidence improves

July 10, 2017

The Central Bureau of Statistics’ (CBS) consumer confidence index climbed to minus 9.3 points in June from minus 10.8 points in the previous month. Despite the rise, the index remains firmly entrenched in negative territory. The result is the highest reading since the consumer confidence index began in March 2011. The improvement in sentiment was sufficiently broad-based as three of the four sub-indicators recorded a positive change from the previous month. Households’ expectations in terms of their savings and financial situations as well as employment opportunities improved. The outlook on the economic situation in the country, however, deteriorated rather significantly.

Contrarily, the business confidence index stumbled and came in at 19.5 points in June compared to May’s 19.6 points and marked the lowest reading since December 2016.

FocusEconomics Consensus Forecast panelists expect private consumption to grow 4.0% in 2017, which is down 0.5 percentage points from last month’s estimate. The panel expects private consumption to grow 3.9% in 2018.Panelists expect fixed investment to grow 3.9% in 2017, which is down 0.9 percentage points from last month’s projection. For 2018, the panel sees fixed investment growing 5.2%.


Author:, Economist

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Israel Economic Sentiment June 2017

Note: Business and Consumer Confidence Indicators.
Source: Central Bureau of Statistics (CBS).


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