Israel: Economic activity broadly stable from a month earlier in September on solid imports
November 1, 2017
In September, the Bank of Israel’s (BoI) Composite State of the Economy Index rose 0.27% on a monthly basis, slowing slightly from August’s revised 0.30% increase (previously reported: +0.31% month-on-month). September’s print signaled the continued, broadly stable growth of economic activity observed since the outset of the year. A breakdown of the print showed that September’s increase was largely driven by stronger imports of both consumer goods and manufacturing inputs (excluding fuels), while a decline in goods exports (excluding agriculture) moderated growth in the month.
On an annual basis, the index climbed 3.4% in September from a year earlier, ticking down from August’s 3.5% increase. September’s rise marked the slowest pace of growth for the index since August 2014.
Author: Christopher Thomas, Economist