Israel: Economic activity index picks up in November
Latest reading: The monthly index of economic activity rose by 0.5 percent in November, reversing a modest decline in October. The latest month’s reading reflects the average monthly growth estimate from the previous three months, and is faster than the long-term growth trend of about 0.3 percent.
November’s increase was supported by stronger goods exports, higher imports of consumption goods and production inputs, firmer labor market indicators, increased indirect tax revenues and gains in equity markets. These positives were partly offset by weaker revenue in trade and services, softer industrial output in mixed-high technology and construction inputs and lower gasoline consumption.