Israel: Composite State of the Economy Index growth eases in January but remains robust
Latest reading: The Bank of Israel’s Composite State of the Economy Index grew 0.59% month-on-month in seasonally adjusted terms in January (December: +0.87% mom). This reflected an ongoing economic rebound following the ceasefire reached with Hezbollah in November. The index was boosted by growth in industrial production, services revenue, retail trade revenue, and job vacancies. However, declines in consumption goods imports, production inputs imports, goods exports, and services exports had a negative impact.
On an annual basis, economic activity rose at a more moderate pace of 1.9% in January (December: +2.2% yoy).