Bank Hapoalim’s and TNS Teleseker’s Israeli Consumer Confidence rose by 5.2 points to a level of 135.6 in August (April 2002=100).
The Present Situation Index was down up 11.3 points and the Expectations Index gained 1.2 points.
Bank Hapoalim economists noted: The Consumer Confidence Index rose in August following an increase in the previous month. A considerable improvement was recorded in the Present Situation Index and in the perception of Employment Situation today.
A modest improvement was recorded in Expectations for Six Months Hence and in the perception of Employment Situation six months hence.
The large rise in the Consumer Confidence Index comes as a surprise in view of disappointing economic indicators, such as the GDP growth rate, the decrease in the revenues of the principal industries, the fall industrial production during the second quarter, and the decrease in credit card sales during July.
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.
