The Bank of Israel’s Composite State of the Economy Index for November
2016 increased by 0.3 percent, slightly higher than previous months’ readings,
but similar to its rate of growth since the beginning of the year. The rate of
increase since the beginning of the year remains higher than during 2015.  There was a marked increase in the index of
goods exports in November, which led the increase in the overall index.
Increases in imports of manufacturing inputs and in the job vacancy rate in
November also contributed to the increase in the overall index, as did the
increase in the number of employee posts in September. The retail trade and
services revenue indices declined in October, as did the Industrial Production
Index, which moderated the increase in the overall index.

 

Revisions in the retail trade revenue and job vacancy data led to an
upward revision of Composite Index figures for previous months (Table 1). Table
2 presents the development of components of the Index in the past few months.

 

Table 1: Revisions in the Composite Index

Revision

Previous data

New data

November

 

0.34

October

0.10

0.19

September

0.24

0.27

August

0.25

0.29

 

 Table 2: Changes in the Index components in recent months

(monthly percent change, unless otherwise noted)

 

November 2016

October 2016

September 2016

August  2016

Industrial
Production Index (excluding mining and quarrying)

 

-1.7 

 -2.4

 2.8

Services
Revenue Index (excluding education, and public administration)

 

 -1.2

1.6 

 -1.3

Retail Trade
Revenue Index

 

 -1.8

 1.1

-3.2

Imports
of consumer goods1

-2.8

2.4

8.4

-3.8

Imports
of manufacturing inputs (excluding fuels)1

0.4

-0.7

-0.9

-2.8

Goods
exports (excluding agriculture) 1

7.7

-3.4

1.5

-4.2

Services
exports (excluding transportation) 1

 

 

 0.1

 2.2

Number of
employee posts in the private sector

 

 

0.4 

 0.0

Rate of
vacant employee posts out of total number of employed people in the business
sector2

3.8

3.7

3.6

4.0

Building
starts3

 

 

-1.1

 

1 Foreign trade
indices are quantitative (in contrast to CBS monthly foreign trade indices).

2 The job
vacancy rate is included in the Index at its level, seasonally adjusted and
smoothed.

3 Since the
Central Bureau of Statistics stopped publishing monthly figures on building
starts, beginning in July 2016 the method of calculation of the building starts
component of the Index was changed. The component is calculated at a quarterly
frequency, and the change (seasonally adjusted, in percent) is attributed to
the last month of the quarter for which the figure is published.  The last figure published is for the second
quarter (relating to June), and it shows an increase of 10.3 percent. The other
months in the quarter are missing values for which the variable value is
estimated in the model.

 

For additional data and explanations please click here.

http://www.boi.org.il/en/Research/Pages/ind.aspx​


 

 

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