State of Economy Index up

The index showed that economic expansion continued in the first quarter of 2008, but at a slower rate than in 2007.

The State of the Economy Index rose by 0.5% in March, the Bank of Israel reported today. The index showed that economic expansion continued during the first quarter of 2008, but at a slower rate than in 2007. Key components of the index fell sharply in March, with possible implications for the future.

The services exports sector and import and export of goods components pulled the index upwards in March. Developments in the index's components were as follows: the manufacturing output index fell by 4.5% in February (the latest available figures), after rising 4.6% in January and the trade and services proceeds index fell by 1.4% in February, after rising 0.2% in January.

However, the exports of services index went the other way. It rose by 5% in March, after falling 4.9% in February. The export of goods index rose by 4.9% in March, after rising 0.1% in February. The imports index rose by 2.4% in March after rising 4.6% in February.

The Bank of Israel also revised State of the Economy Index for January upwards to 0.4% from 0.2%. The February index was left unchanged.

Published by Globes [online], Israel business news - www.globes-online.com - on April 17, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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