Data released by Bank Hapoalim’s and TNS Teleseker show that Israeli Consumer Confidence index fell by 4.2 points to a level of 123.3 in June (April 2002=100).
The Present Situation Index was down by 5.8 points and the Expectations Index dropped by 1.6 points.
Bank Hapoalim economists: The Consumer Confidence Index fell in June after rising for three months. It is difficult to determine whether a single observation or a change in trend is involved, which may have resulted from the moderate losses in the capital market and the increased uncertainty deriving from the security situation.
It should be noted that data on private consumption expenditure for recent months are indicative of some degree of slowdown. For example, sales by credit cards remained practically unchanged in the second quarter of the year, and the revenues of the principal industries decreased.
The Consumer Confidence Index of Bank Hapoalim and TNS in Israel is based on a TNS Teleseker monthly poll covering a national sample of 1,000 respondents representing the vast majority of the adult (18+) population of Israel.
The CCI index has been published in Israel since April 2002. TNS, a leading global marketing information group, conducts similar CCI polls in 18 countries worldwide including the conference Board CCI in the USA and the Nationwide CCI in the UK. Numerous studies show that consumer confidence indices are a leading indicator of developments in the private consumption.
