According to the Bank of Israel the index data points to the continued expansion of economic activity, albeit at a more moderate pace than in the first quarter of this year
BoI announced last week that it's composite state-of-the-economy index for August 2011 increased by 0.3% from its July level. The index data points to the continued expansion of economic activity, albeit at a more moderate pace than in the first quarter of this year.
The BoI noted that the moderate increase in the index this month reflects an increase in the manufacturing production index, the index of imports of production inputs, and the services exports index. Those increases were offset by declines in the goods exports index, and the trade and services revenue index.
The index of manufacturing production rose by 1.8% in July, after falling 2.6% in June; the trade and services revenue index fell by 0.4% in both June and July; the services exports index rose by 4.4% in August, after falling 9.1% in July; the index of imports of production inputs rose by 1% August, after rising 0.6% rise in July; the goods exports index fell by 5.7% in August, after falling 3% decline in July; and the index of consumer goods imports fell by 0.1% in August, after rising by 2.9% in July.
