Bank of Israel research department: State of Economy index down by 0.1% in June

The Bank of Israel research department said last week in a press release that the State of the Economy Index fell 0.1% in June 2005, and 0.7% in the first half of 2005.
 
The research department noted that the drop in the State of the Economy Index is the result of slower growth since the beginning of 2005.
 
The department also noted that the state of the economy Index fell in the first half of 2005 by 0.7%, after rising 4.8% in 2004 and 1.1% in 2003.
 
The index fell for five consecutive months (February-June), after remaining unchanged in December 2004-January 2005.
 
In its explanatory notes the department noted that the Changes in the State of the Economy Index components were as follows:
- Trade and services proceeds were up by 1.7%, after falling 0.4% in April.
- Industrial output was down by a seasonally adjusted 0.2% in May after rising 1.2% in April and 0.2% in March.
- Exports were up 0.5% in June, after falling 7.3% in May.
- Imports were up 0.6% in June, after rising 8.8% in May.