Israel: Consumer and business confidence indices drop in January
February 12, 2018
In January, the Central Bureau of Statistics’ (CBS) consumer confidence indicator declined from December’s minus 9.3 points to minus 10.0 points. The index remained firmly entrenched in negative territory, where it has been since the survey began in March 2011. January’s drop was due largely to a sharp deterioration in consumers’ outlook on unemployment and slightly weaker expectations on household savings. On the other hand, households’ outlook on broader economic development improved notably, reaching the highest level since the launch of the survey. Meanwhile, consumers’ view on their economic prospects remained upbeat and stable from a month earlier.
Meanwhile, business confidence also fell in January, declining to 21.1 points from 22.3 points.
Author: Javier Colato, Economist