Israel: Industrial production skyrockets in September due to base effect
November 20, 2014
In September, industrial production expanded a seasonally-adjusted 2.0% over the previous month. The reading was significantly below the revised 4.7% expansion tallied in August (previously reported: +3.9%).
On an annual basis, industrial production expanded 19.4% in September mainly due to a base effect. September’s annual reading was far above the 6.4% recorded in the previous month and marked the highest reading since May 2010. As a result of the annual increase, annual average variation in industrial production jumped from 1.2% in August to 3.3% in September and now stands at the highest level since April 2013.
Author: Cecilia Simkievich, Economist