The Bank of Israel's Composite State of the Economy Index for April 2016 increased by 0.1 percent. Since the beginning of the year, the rate of growth of the index is lower than its rate of increase in 2015. Following the publication of business output figures for the first quarter of 2016, the trend line of the Composite Index, reflecting the long-term growth rate, was revised downward. The index readings for January and February[1] were therefore also revised downward (Table 1). The Composite Index reading for this month was also negatively impacted by the downward revision in the trend line, and by the declines in goods exports and the import of inputs. In contrast, the index was positively impacted primarily by increases in the industrial production index and in the retail trade revenue index and the services index in March, as well as an increase in consumer goods imports in April.
Revision |
Previous data |
New data |
April |
0.14 | |
March |
0.16 |
0.20 |
February |
0.24 |
0.14 |
January |
0.18 |
0.07 |
April 2016 |
March 2016 |
February 2016 |
January 2016 | |
Industrial Production Index (excluding mining and quarrying) |
3.0 |
0.3 |
-4.0 | |
Services Revenue Index (excluding education, and public administration) |
3.2 |
-1.3 |
-0.7 | |
Retail Trade Revenue Index |
5.0 |
0.2 |
-1.2 | |
Imports of consumer goods3 |
1.1 |
0.7 |
0.0 |
-1.4 |
Imports of manufacturing inputs (excluding fuels)3 |
-2.4 |
-7.2 |
14.1 |
-9.4 |
Goods exports (excluding agriculture) 3 |
-1.7 |
-1.4 |
-9.5 |
0.6 |
Services exports (excluding transportation) 3 |
0.9 |
2.1 |
-6.6 |
4.6 |
Number of employee posts in the private sector |
0.3 |
-0.6 | ||
Rate of vacant employee posts out of total number of employed people in the business sector1 |
3.6 |
3.6 |
3.7 |
3.4 |
Building starts2 |
-3.5 |
-3.1 |