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Key Points

Israel's Composite State of the Economy Index rose 0.25% in March, signaling steady but modest growth. The increase was supported by higher imports, exports, and retail activity, though services exports dipped. The Bank of Israel revised earlier months' data upward, reinforcing Q1's positive trend. The index combines 10 key indicators to gauge real-time economic health.

Key Points: Israel Economy Index Rises Slightly in March Amid Mixed Indicators

  • March growth fueled by rising imports and retail trade
  • Services exports and employment posts declined
  • Index tracks 10 key economic indicators
  • Bank of Israel revises January-February data upward
2 min read

Israel: Composite state of the economy index up slightly in March

Israel's Composite State of the Economy Index grew 0.25% in March, driven by imports, exports, and retail, while services exports declined.

"The Index reflects continued slightly moderate growth in economic activity in Q1 2024. – Bank of Israel"

Tel Aviv, May 1

The Composite State of the Economy Index increased in March by 0.25 per cent, and the Index readings for January and February were revised upward, reflecting continued slightly moderate growth in economic activity in the first quarter of the year.

The Bank of Israel reported that the Index was positively influenced by increases in the import of consumption goods, the import of production inputs, goods exports, and credit card purchases (March), and the Industrial Production Index, the services revenue index, and the retail trade revenue index (February). In contrast, services exports, employee posts (January) declined, which negatively influenced the index.

The Composite State-of-the-Economy Index is a synthetic indicator for examining the direction of the development of real economic activity, in real time. It is calculated based on 10 different indicators: the industrial production index; the trade revenue index; the services revenue index; consumer goods imports; imports of manufacturing inputs; goods exports; services exports; the number of employee posts in the private sector; the job vacancy rate and the number of building starts.

The Index is calculated by the Bank of Israel's Research Department once a month, close to the date that the Industrial Production Index is published by the Central Bureau of Statistics. (ANI/TPS)

- ANI

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Reader Comments

R
Rahul K.
Interesting to see Israel's economy showing resilience despite global challenges. India could learn from their focus on multiple economic indicators for real-time tracking. Our RBI should consider developing something similar! 🇮🇳
P
Priya M.
The growth in credit card purchases shows consumer confidence is returning. But I wonder - with Israel's high tech focus, are traditional economic indicators enough? Their startup ecosystem probably contributes more than what these numbers show.
A
Amit S.
While the growth is modest, it's impressive how Israel maintains economic stability despite security challenges. Makes me think about how our border states could benefit from similar economic monitoring systems.
S
Sneha R.
The decline in services exports is concerning. With India-Israel trade growing, I hope this doesn't affect our IT companies working with Israeli firms. Our bilateral trade reached $10 billion last year - we need this partnership to strengthen further!
V
Vikram J.
Israel's economic indicators are always so detailed and transparent. Meanwhile in India, we often get conflicting reports from different ministries. Maybe we need to adopt similar standardized measurement systems.
N
Neha P.
The industrial production growth is good news for Indian companies exporting to Israel. With the new free trade agreement being negotiated, this could mean more opportunities for Make in India products! ✨

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