Tel Aviv [Israel], February 24 (ANI/TPS): The Bank of Israel reported that the Composite State of the Economy Index increased by 0.6 per cent in January 2024. The Bank explained that this reflected a strengthening of economic activity following the ceasefire in the north of the country that began in October 2024.
The Index was positively influenced by increases in the Industrial Production Index, the services revenue index and the retail trade revenue index (December), and job vacancies (November) said the Bank. In contrast, the import of consumption goods the import of production inputs, and goods exports (January), and services exports (November) declined, which negatively influenced the index.
The Composite State-of-the-Economy Index is a synthetic indicator for examining the direction of the development of real economic activity, in real time. It is calculated based on 10 different indicators: the industrial production index; the trade revenue index; the services revenue index; consumer goods imports; imports of manufacturing inputs; goods exports; services exports; the number of employee posts in the private sector; the job vacancy rate and the number of building starts.
The Index is calculated by the Bank of Israel's Research Department once a month, close to the date that the Industrial Production Index is published by the Central Bureau of Statistics. (ANI/TPS)