Israel: Composite state of the economy index up slightly in March

Tel Aviv [Israel], May 1 (ANI/TPS): The Composite State of the Economy Index increased in March by 0.25 per cent, and the Index readings for January and February were revised upward, reflecting continued slightly moderate growth in economic activity in the first quarter of the year.

The Bank of Israel reported that the Index was positively influenced by increases in the import of consumption goods, the import of production inputs, goods exports, and credit card purchases (March), and the Industrial Production Index, the services revenue index, and the retail trade revenue index (February). In contrast, services exports, employee posts (January) declined, which negatively influenced the index.

The Composite State-of-the-Economy Index is a synthetic indicator for examining the direction of the development of real economic activity, in real time. It is calculated based on 10 different indicators: the industrial production index; the trade revenue index; the services revenue index; consumer goods imports; imports of manufacturing inputs; goods exports; services exports; the number of employee posts in the private sector; the job vacancy rate and the number of building starts.

The Index is calculated by the Bank of Israel’s Research Department once a month, close to the date that the Industrial Production Index is published by the Central Bureau of Statistics. (ANI/TPS)

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