Tel Aviv [Israel], April 2 (ANI/TPS): The Bank of Israel (BOI) reported that the country’s Composite State of the Economy Index increased by 0.46 per cent in February, “reflecting the economy’s continuing gradual recovery from the impact of the Swords of Iron War.”
The Bank said that while the war continued in February its impact on activity continued to weaken.
The Index was positively influenced by increases in imports of consumption goods, imports of production inputs, goods exports, the job vacancy rate (February), the Industrial Production Index, the services revenue index, the retail trade revenue index (January), and employee posts (December). In contrast, credit card purchases (February), building starts (fourth quarter 2023), and services exports (December) 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)
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