The Bank of Israel reported a 0.3 percent increase in its monthly Index of Economic Activity for September, matching the long-term growth trend. The index reflects estimated average monthly gross domestic product growth over July to September. Estimates for recent months were revised downward following the publication of final data. Credit card purchases, mainly in August, and goods exports, particularly manufacturing exports, supported the increase. Gains in the NASDAQ 100 and Tel Aviv Stock Exchange General Shares indices in August and September also contributed, alongside August retail trade and receipts from other services. August employee and job vacancy figures and September indirect tax receipts moderated the rise.
Bank of Israel reports 0.3 percent rise in September economic activity index, revises recent months downward
The Bank of Israel’s September Index of Economic Activity rose 0.3 percent, reflecting estimated average monthly gross domestic product growth over July to September and matching the long-term trend. Purchases, exports and equity indices supported growth, while employment indicators and indirect tax receipts tempered the increase. Recent months’ estimates were revised downward after final data became available.