Israel Economic Sentiment November 2017


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.

FocusEconomics Consensus Forecast panelists expect GDP to grow 3.4% in 2018, which is unchanged from last month’s forecast. For 2019, our panelists expect GDP growth to tick down to 3.2%.

Author:, Economist

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Israel Economic Sentiment Chart

Israel State of Economy November 2017

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

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