The Bank of Israel published its monthly Index of Economic Activity showing a 0.2 percent decline in April. The index reflects the average monthly growth estimate for February to April and indicates a pace of increase below the long-term growth trend of about 0.3 percent. The decline was driven by weaker credit card spending, labour market data on employee numbers and job vacancies in February and March, service industry revenue in February, retail trade data in February and March, and actual gross domestic product data for the first quarter of 2026. Stronger goods exports, imports of consumer goods and manufacturing inputs in April, and financial market data from the Tel Aviv Stock Exchange General Shares Index in recent months and the Nasdaq index in April partly offset the fall. The Bank also revised the index lower for the previous three months after incorporating previously missing data and an additional downward revision to fourth quarter 2025 growth.
Bank of Israel2026-05-20
Bank of Israel reports 0.2 percent fall in April economic activity index and downward revisions to prior months
The Bank of Israel reported a 0.2 percent decline in its monthly Index of Economic Activity in April, indicating growth below the long-term trend of about 0.3 percent. The fall mainly reflected weaker domestic demand and labour market indicators, partly offset by stronger goods exports, imports and financial market data. The Bank also revised the index down for the previous three months following new data and a further downward revision to fourth quarter 2025 growth.