Israel: Consumer confidence dips from October's all-time high while business confidence recedes for a third straight month in November
December 11, 2017
In November, the Central Bureau of Statistics’ (CBS) consumer confidence index edged down from the previous month’s all-time high of minus 9.1 points to minus 10.7 points. Although November’s reading landed just shy of the top spot, the index was still firmly entrenched in negative territory—where it has been since the survey began in March 2011. November’s moderation from a month earlier was largely due to an acute worsening of expectations towards household savings. That said, expectations towards household finances and unemployment went unchanged in the month—likely tied to the tight labor market. On the other hand, broader economic expectations grew more optimistic in the month.
In a similar vein, business confidence fell in November, climbing down from 21.3 points in October to 19.6 points—putting August’s all-time high of 23.3 points out of reach for another month.
Author: Christopher Thomas, Economist