Israel: Economic activity index edges up in November
The Bank of Israel’s Composite State of the Economy Index increased 0.32% over the prior month in November, up from an upwardly revised 0.30% in October (previously reported: +0.26% month-on-month). The print was driven by a pick-up in imports of consumer goods and manufacturing inputs. Lagging retail trade revenue and services revenue data for October also supported the expansion in the headline figure. On the other hand, the overall acceleration was held back by declines in goods exports and the job vacancy rate in November.
On a year-on-year basis, growth in the index was stable at October’s revised 3.2% in November.