Israeli Consumer Confidence Index fell by 1.0 points in September

The index reached a level of 124.6, Preswent Situation Index rose by 1.3 points
 
BankHapoalim’s and TNS Teleseker’s Israeli Consumer Confidence Index fell by 1.0 points in September 2012, to a level of 124.6.
 
The Present Situation Index rose by 1.3 points and the Expectations Index was down by 2.5 points.
 
In a press release, Bank Hapoalim economists stated: "The Consumer Confidence Index is falling and the level of the index is below the high levels prevalent in 2010. The downturn is particularly notable in the Assessment of the Employment Situation 6 Months Ahead. Generally speaking, expectations surveys, including the Consumer Confidence Index, reflect pessimism regarding the future. This is at a time when actual data for previous months, such as data on growth, private consumption and employment, were surprisingly favorable.
 
"We believe that the downturn in consumer confidence derives partly from price increase among staples such as food and fuel. During this period consumer confidence also appears to have suffered from the effect of such factors as political uncertainty, and tension over the question of Iran's development of nuclear weapons."
 
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.