Israel: Economic activity ticks up in November
December 24, 2017
In November, the Bank of Israel’s (BoI) Composite State of the Economy Index rose 0.25% on a monthly basis, accelerating from October’s revised 0.23% rise (previously reported: +0.32% month-on-month). November’s print signaled that the economy is operating at roughly its potential rate. A breakdown of the print showed that November’s increase was largely driven by stronger imports of consumer and manufacturing inputs.
On an annual basis, the growth in the index dipped from a revised 3.2% (previously reported: +3.3% yoy) to 3.1% in November. November’s figure was the lowest since July 2014.
Author: Christopher Thomas, Economist