The Bank of Israel’s Composite State of the Economy Index for June 2017
increased by 0.3 percent, an increase slightly higher than in the previous
month, indicating continued expansion of economic activity. Looking more
broadly, the increase in the Index over the past three months is slightly more
moderate than the average in the preceding year and a half (about 0.4
percent).  This slowdown is a result of
the declines in a number of components in the past two months (Table 2).

 

The Composite Index figures for recent months were revised slightly
downward (Table 1), mainly due to the decline in the Industrial Production and
Revenue indices for May. 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

June

 

0.32

May

0.28

0.25

April

0.38

0.34

March

0.40

0.39

 

 


 

 

 

Table 2: Changes in the Index components in recent months
(monthly percent change, unless otherwise noted)

 

June 2017

May 2017

April 2017

March 2017

Industrial
Production Index (excluding mining and quarrying)

 

-4.1

2.6

3.9

Services
Revenue Index (excluding education and public administration)

 

-2.0

0.6

0.8

Retail Trade
Revenue Index

 

-3.7 

2.3

2.1

Imports
of consumer goods1

-0.5

-1.9

2.4

4.1

Imports
of manufacturing inputs (excluding fuels)1

-4.0

0.6

4.4

-2.5

Goods
exports (excluding agriculture) 1

-1.5

-0.3

-4.8

9.9

Services
exports (excluding transportation) 1

 

 

3.7 

0.2

Number of
employee posts in the private sector

 

 

 0.0

-0.1

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

3.8

3.8

3.8

3.8

Building
starts3

 

 

 

-18.3

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.

 

For additional data and explanations please click here.

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