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The Bank of Israel's Composite State-of-the-Economy Index for October 2012 increased by 0.1 percent from its September level.[1] The data incorporated in the index this month indicate the continued relatively moderate expansion of economic activity. Sharp declines in the services exports index and in the trade and services revenue index stood out among the component indices that declined this month.
The main components of the index changed as follows: The index of manufacturing production declined by 0.8 percent in September, following its increase of 3 percent in August. The trade and services revenue index declined by 5.6 percent in September, after a 1.8 percent increase in August. The services exports index (excluding transport) declined sharply in October (Bank of Israel estimate) by 15.4 percent, after an increase of 3 percent in September. The index of imports of production inputs declined in October by 0.8 percent, following a decline of 1.1 percent in September. The goods exports (real) index decreased by 2.7 percent in October, after an increase of 1.2 percent in September. The (real) index of consumer goods imports declined by 1.1 percent in October, after an increase of 6.6 percent in September.
Updated rates of change in composite index (in percent)
Previous figure Revised figure
August 0.21 0.17
September 0.22 0.15
October 0.12
[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.