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| 18.01.2012 |
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| The Composite State-of-the-Economy Index for December 2011 increases by 0.2 percent from the November level |
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| To view this press release as a WORD file - Click here |
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| To tables and background materials on the Bank's website - Click here |
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| The Bank of Israel's composite state-of-the-economy index for December 2011 increased by 0.2 percent from its November 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 the year. The increase in the index this month reflects increases in the index of consumer goods imports, and in the goods exports and services exports indices, which were offset by declines in the manufacturing production and the trade and services revenue index. For the full year of 2011, the composite index increased at a substantial pace of 4.9 percent on average, after increasing 5.9 percent on average for the full year of 2010. It should be noted that according to preliminary Central Bureau of Statistics estimates, business product increased impressively in 2011 at a rate of 5.1 percent. |
| The main components of the index moved as follows: The index of manufacturing production declined by 2.1 percent in November, after an increase of 2.3 percent in October. The trade and services revenue index declined 0.4 percent in November, after remaining steady in October. The services (excluding transport) exports index increased in December (Bank of Israel estimate) by 0.1 percent, after an increase of 1.2 percent in November. The index of imports of production inputs declined in December by 0.1 percent, following its 2.3 percent decline in November. The goods exports index increased by 1.4 percent in December, following a 0.7 percent increase in November. The index of consumer goods imports increased by 2.1 percent in December, following its increase of 0.2 percent in November. |
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| Updated rates of change in composite index (in percent) |
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Previous figure |
Revised figure |
| October |
0.13 |
0.17 |
| November |
0.17 |
0.19 |
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| [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. |
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