Israel Economic Sentiment January 2019


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).

FocusEconomics Consensus Forecast panelists expect GDP to grow 3.2% in 2019, which is unchanged from last month’s forecast. For 2020, our panelists expect GDP growth to remain unchanged at 3.2%.

Author:, Economist

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Israel Economic Sentiment Chart

Israel State of Economy January 2019

Note: Month-on-month and year-on-year variations in %.
Source: Bank of Israel (BoI) and FocusEconomics calculations.

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