The rise in November's index reading was due primarily to a rise in manufacturing output
The Comprehensive State of the Economy Index compiled by the Bank of Israel rose 0.6% in November. The rise in the index continues a trend of several months, and the Bank of Israel said the trend shows that “the positive turnaround in the economy's operation continues”.
The index figures for both September and October were revised upward, from 0.5% to 0.6%. The rise in November's index reading was due primarily to a rise in manufacturing output, which rose 2.35 in October compared with September. The trade and services indices also rose, by 0.9% in October, following a fall of 0.85 in September.
The index is a synthetic cyclical indicator for examining the direction in which real economic activity is moving, in real time. It is calculated from the monthly changes in seven components that reflect different aspects of real economic activity, i.e., the indices of manufacturing production; imports of consumer goods; imports of production inputs; trade and services revenue; the number of employee posts in the business sector; exports of goods (excluding agriculture, fuel, diamonds, and ships and aircraft) and exports of services (tourism, computer and know-how, communications, insurance, and other business services).
The Index format consists of two elements: (1) the long-term growth rate (the middle line in the index), calculated from the linear combination of the trend of its components, and (2) the short-term movements of the index--the acceleration/slowdown relative to the long-term growth rate (growth cycles), calculated using a non-linear Markov-switching model.
State of the Economy Index rose 0.6% in November
The rise in November's index reading was due primarily to a rise in manufacturing output
21.12.09 / 00:00
•
More articles that may interest you
El Al commences flights to Turkey
Israel to renew flights to south Russia
Easing of Israel’s Gaza blockade enables flower farmers to export to Europe
Israel's Unemployment claims down 3%
Hamburg Sd prefer Tilbury to Felixstowe on UKEI service
Zim clarifies: moving to the Port of Tilbury will be thoroughly examined
More news from Industry & Trade Section
>BOL may raise economic growth forecast/07.12.09
>Israel & Russia form agricultural cooperation agreement/07.12.09
>IMF delegation in Israel to learn how Israel successfully coped with the crisis/07.12.09
>Bank of Israel raises key rate to 1% amid economic rebound/30.11.09
>Turkey to support Israel drive to join OECD/30.11.09
>Chamber of Commerce: Milk most sold product in Israel/30.11.09
>CBS: Economy grew at annual rate of 2.2% in Q3/23.11.09
>"S" index: Israel economic performance index up 0.5% in October/23.11.09
>Israel perceived to be less corrupt than in 2008/23.11.09
>OECD: Israel central bank forex interventions risk inflation/23.11.09