Israel: Consumer confidence hits all-time high in March on employment gains; business confidence ticks up to three-month high
In March, the Central Bureau of Statistics’ (CBS) consumer confidence indicator inched up from minus 9.1 points in February to minus 9.0 points—an all-time high. Despite the improvement, the index remained firmly entrenched in negative territory, where it has been since the survey began in March 2011.
March’s marginal increase was due a marked improvement in consumers’ expectations towards unemployment, which offset growing pessimism towards household savings and broader economic development. Consumers’ brighter outlook on jobs also offset weaker optimism towards their own economic prospects.
Moreover, business confidence ticked higher in March, rising to a three-month high of 22.1 points from 20.5 in February.