Israel Industry

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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.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.0% in 2014, which is unchanged from last month’s forecast. For 2015, participants expect industrial output to increase 3.9%, which is also unchanged from last month’s projection.


Author:, Economist

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Israel Industry September 2014

Note: Year-on-year and month-on-month seasonally adjusted changes of industrial production index in %.
Source: Central Bureau of Statistics (CBS).


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