Israel: Decline in Composite State of the Economy Index softens in September
Latest reading: The Bank of Israel’s Composite State of the Economy Index fell 0.30% month-on-month in seasonally adjusted terms in September (August: -0.42% mom). This marked the fourth consecutive monthly decline, as the war continued to weigh on activity. In September, declines in goods exports, industrial production, retail trade, services revenue, and building starts negatively impacted the index. These factors more than outweighed increases in the import of consumption goods, import of production inputs, credit card purchases and services exports.
On an annual basis, economic activity fell at a softer pace of 2.2% in September (August: -2.7% yoy).