The Bank of Israel's Composite State-of-the-Economy Index for September 2012 increased by 0.2 percent from its August level.[1] The data incorporated in the index this month indicate the continued expansion of economic activity at a moderate rate, similar to that of the previous year. The increase in the index this month reflects increases in nearly all the component indices, except services exports. Following the Central Bureau of Statistics upward correction of goods exports data for August, the Composite Index data for August were also revised upward.
The main components of the index changed as follows: The index of manufacturing production increased by 3.6 percent in August, following its increase of 3 percent in July. The trade and services revenue index rose by 1.8 percent in August, after a 3.6 percent increase in July. The services exports index (excluding transport) declined in September (Bank of Israel estimate) by 0.3 percent, after an increase of 0.3 percent in August. The index of imports of production inputs increased in September by 0.8 percent, following a decline of 1 percent in August. The goods exports (real) index increased by 0.8 percent in September, following its decline of 4.5 percent in August. The (real) index of consumer goods imports increased by 2.7 percent in September, after a decline of 3.5 percent in August.
Updated rates of change in composite index (in percent)
Previous figure Revised figure
July 0.20 0.22
August 0.14 0.21
September 0.22
[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.