Consumer confidence index up in April

Economic indicator rises 2.0 points following 2.4-point increase in March, bringing it close to average level in 2010

Reuters|Published: 05.12.11 , 08:07

Israel's consumer confidence index rose 2.0 points in April following a 2.4 point increase in March, Bank Hapoalim and TNS Teleseker say.

"In April there was a further rise in the consumer confidence index and it is close to the average level in 2010. Consumer confidence has been fluctuating around a relatively high level for several months," the report said.

"We believe this reflects on the one hand the very good economic situation, particularly in the job market, and on the other hand the erosion in the public's buying power due to the rise in prices. Economic indicators of the past few months continue to be positive."

Israel's economy grew 4.7% in 2010 and is forecast by the central bank to grow 4.5% in 2011.