Israel: Economic activity index picks up at the start of the fourth quarter
The Bank of Israel’s Composite State of the Economy Index increased 0.28% over the previous month in October, edging up from a revised 0.25% expansion in September (previously reported: +0.26% month-on-month). The result was supported by expansions in exports and consumer goods imports, which contrasted contractions in September. However, the headline reading was held back by September’s drops in industrial production and retail trade and services revenues.
Finally, on a year-on-year basis, growth in the index was stable at September’s revised 3.1% in October.