The Consumer Confidence Index has been stable at a relatively high level for the past two years amidst some degree of fluctuation
The Consumer Confidence Index, compiled monthly by Bank Hapoalim and TNS Teleseker show that Israeli Consumer Confidence Index fell by 1.8 points in September to a level of 130.9 (April 2002=100).
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. Bank Hapoalim economists: The Consumer Confidence Index has been stable at a relatively high level for the past two years amidst some degree of fluctuation. The stability in the index is rather surprising in view of concern over a global recession and the heavy price slides in the capital market.
The Employment Situation Index remained stable at a high level, and conforms to Central Bureau of Statistics data showing a decrease in the unemployment rate to a level of 5.4% in July. However, a downturn was recorded for the month in the Employment Expectations component and Income Expectations for six months ahead. We are inclined to attribute the decline in the Expectations component to the increased level of uncertainty and concern over a global slowdown. In the USA, stability was recorded in the Conference Board Consumer Confidence Index in September.
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.
