Israel: Economic activity index inches down in December
January 27, 2019
Economic activity edged up at the start of the year according to the Bank of Israel’s Composite State of the Economy Index, which increased 0.28% in January over the previous month. The print, which is up from December’s revised 0.26% increase (previously reported: +0.24% month-on-month), was chiefly supported by a pick-up in imports of manufacturing inputs. January’s expansion was limited by drops in goods export and imports of consumer goods in the same month while lagging data for December showed that a fall in services revenue also held back growth in economic activity in January.
On a year-on-year basis, growth in economic activity in January was stable at December’s upwardly revised 2.8% expansion (previously reported: +2.7% year-on-year).
Author: Jan Lammersen, Economist