Israel: Consumer and business confidence indices close in on all-time highs in December
In December, the Central Bureau of Statistics’ (CBS) consumer confidence index edged up from November’s minus 10.7 points to minus 9.3 points. Although December’s reading tied June’s as the second-highest in the index’s history, the index was still firmly entrenched in negative territory—where it has been since the survey began in March 2011. December’s increase from a month earlier was largely due to a sharp improvement in expectations toward household savings. Moreover, households grew marginally more upbeat about their economic prospects. On the other hand, views on unemployment and broader economic development grew moderately more downbeat in the month.
Business confidence rose sharply in December, climbing from 19.6 points in November to 22.3 points—and closing in on August’s all-time high of 23.3 points.