The Bank of Israel reported that its monthly Index of Economic Activity rose 0.5% in July, exceeding the long-term monthly growth trend of about 0.3%. The index represents the average estimated monthly growth in gross domestic product over the three months from May through July. Labor market indicators, tax receipts and second-quarter GDP data supported the increase. Weaker credit card purchases, industrial production, goods and manufacturing exports, and imports of consumption goods and manufacturing inputs moderated growth. Estimates for previous months were revised upward following the receipt of missing data and an upward revision to first-quarter 2026 growth.
2026-08-19Bank of Israel
Bank of Israel reports economic activity growth of 0.5% in July, above the long-term trend
The Bank of Israel’s monthly Index of Economic Activity increased 0.5% in July, above its long-term growth trend of about 0.3%. Labor market data, tax receipts and second-quarter GDP supported growth, while weaker production, trade and consumption indicators limited the increase.