Israel: Economic activity index signals robust finish to the third quarter
The Bank of Israel’s Composite State of the Economy Index expanded 0.26% over the previous month in September, down from August’s revised 0.33% increase (previously reported: +0.36% month-on-month). The growth in the index reflected increased imports of manufacturing inputs and job vacancies in September, as well as a marked expansion in industrial production and services revenue in August. On the other hand, sharp contractions in consumer goods imports and goods exports in September limited the headline expansion.
Finally, on a year-on-year basis, growth in the index was stable at August’s revised 3.5% in September.