Israel: Economic activity index remains solid in August

The Bank of Israel’s Composite State of the Economy Index grew 0.36% month-on-month in August. The print matched July’s reading and was supported by an across-the-board improvement, particularly a pickup in consumer goods imports in August and industrial production in July. In addition, services and retail trade revenue increased in July.

Lastly, on an annual basis, growth in the index was stable in August at July’s 3.6%.

Israel GDP Forecast

FocusEconomics Consensus Forecast panelists expect GDP to grow 3.5% in 2018, which is unchanged from last month’s forecast. For 2019, our panelists expect GDP growth to tick down to 3.2%, also unchanged from last month’s forecast.