Bank of Israel reports monthly Index of Economic Activity was virtually unchanged in October

The Bank of Israel published its monthly Index of Economic Activity, reporting that the index was virtually unchanged in October after an increase in September that reflected the emergence from Israel’s military operation against Iran. The October reading, which reflects the average monthly growth estimate from August to October, was weighed down by declines in credit card purchases, mixed-high technology goods exports, other services exports, goods imports, trade and services revenue, industrial production of construction inputs and mixed-high technology, real wage payments, and gasoline consumption. Indirect tax and income tax data for September, together with actual gross domestic product for the third quarter, partially offset the downward influences, and the index for the previous two months was revised upward as missing data were completed, including the third-quarter GDP data.