Israel’s Composite State of the Economy Index up by 0.17 pc

Tel Aviv [Israel], August 27 (ANI/TPS): The Bank of Israel (BOI) reported that Israel’s Composite State of the Economy Index increased by a moderate rate of 0.17 per cent in July, similar to the average over the preceding three months. But the BOI said that this pace is low compared to the Index’s long-term average. And July is part of the high summer tourist season.
The Index was positively influenced this month, said the Bank, by increases in consumer goods imports (July), imports of production inputs (July), goods exports (July), employee posts (May), electricity production (July), and credit card purchases (July). In contrast, the Industrial Production Index (June), the services revenue index (June), services exports (May), and the job vacancy rate (July) declined and had a negative impact on 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 ten 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)