The Bank of Israel published its monthly Index of Economic Activity showing a 0.5% increase in November, reversing a slight decline in October. The release notes that the November reading reflects the average monthly growth estimate for September to November and that the current pace is above the long-term growth trend of about 0.3%. The increase was supported by data on goods exports (September to November), imports of consumption goods and production inputs (November), labour market indicators including the number of workers, wages and job vacancies (September and October), indirect taxes (October and November), and equity market indices including the Tel Aviv Stock Exchange stock index and the Nasdaq index (September to November). The second estimate of actual third-quarter GDP also contributed, while revenue data in trade and services, industrial production in mixed-high technology and construction inputs, and gasoline consumption data (September) moderated the overall rise. The Bank of Israel also revised the index for the prior two months downward, citing the completion of previously missing data and a downward revision to the second estimate of actual third-quarter GDP.
Bank of Israel 2025-12-17
Bank of Israel reports 0.5% rise in the monthly Index of Economic Activity in November
The Bank of Israel reported a 0.5% increase in its November Index of Economic Activity, reversing October's decline and surpassing the long-term growth trend of 0.3%. The rise was driven by goods exports, imports, labor market indicators, indirect taxes, and equity market indices, while revisions to prior months' data and third-quarter GDP estimates were adjusted downward.