The Composite State-of-the-Economy Index for November 2011 increases by 0.2 percent from the October level
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The Bank of Israel's composite state-of-the-economy index for November 2011 increased by 0.2 percent from its October level. The index data in the past two months indicates continued expansion of economic activity, albeit at a more moderate pace than in the third quarter of this year. The increase in the index this month reflects increases in the manufacturing production index and in the goods exports and services exports indices, which were offset by declines in the index of imports of production inputs and the trade and services revenue index.
The main components of the index moved as follows: The index of manufacturing production increased by 2.5 percent in October, after an increase of 0.8 percent in September. The trade and services revenue index declined 0.1 percent in October, after an increase of 1.5 percent in September. The services (excluding transport) exports index increased in November (Bank of Israel estimate) by 2.6 percent, after a decline of 16.1 percent in October. The index of imports of production inputs declined in November by 2.7 percent, following its 1.9 percent decline in October. The goods exports index increased by 0.5 percent in November, following a 1 percent decline in October, and declines in the three months preceding October. The index of consumer goods imports increased by 1.6 percent in November, following its decline of 7 percent in October.
[1] In calculating the composite index, changes in its components (seasonally adjusted)—in both the current month and previous months with a lag—are taken into consideration.