Promising forecasts
Photo: Index open
Statistics bureau cites sharp increase in exports
Economic indicators between January and March indicate 9% increase in industrial production index, 10.8% increase in commercial income. Export of goods rises by 26.1% following 38.3% increase in three previous months
Israel's economy continues to improve. Economic indicators for the months January and February published Thursday by the Central Bureau of Statistics show an increase in industrial production, commercial turnover, and retail commerce.
The increase in import of raw materials, export of goods and tourist lodgings all moderated during these months.
Here is a picture of Israel's economy according to the compendium of indicators published by the CBS:
Industrial production index – The IPI rose in January and February by 9.1%, after a 10.8% increase in the two months prior. High-tech production during this period rose by 7.9%, while traditional industries, such as food, textile, wood and paper, registered a more moderate increase in 5.5%.
Export of goods (excluding diamonds) – This indicator increased during the said time period by 26.1%, following a sharp increase of 38.3% in the previous quarter. Industrial export increased similarly.
Import of raw materials (excluding diamonds and energy components) – This indicator rose by 44.6% following a steep increase of 54.6% in the three months preceding this period.
Goods and services revenue index – This indicator rose by 10.8% in January and February, following an 8.8% increase in previous months. The largest increases were registered in turnover in the business services sector.
Retail revenue index – This is a clear indicator of demand in the local market, and rose in January and February by 13.7%, following 12.9% in previous months.
Unemployment – The rate of joblessness remained the same in February, at 7.3% of the working population (some 220,000 jobless).
Credit card applications – The total number of consumer credit card applications increased by 10.7% during the said period, following a similar increase in the previous months.
Hotel lodgings – This figure grew by 9%, following an increase of 17% in the three months prior to the said period.
