The Bank of Israel reported that its composite state-of-the-economy index fell by 0.3% in June.
The movement of the index in the last two months indicates a slowdown in the economy’s rate of growth compared with that in the first quarter. In May, there was no change in the index.
The decline in the June index was the outcome of falls in the indices of manufacturing production, trade and services revenue, and services exports on the one hand, and rises in the indices of goods imports and exports on the other.
Within the overall index, services exports declined in June by 1.1%, following a 5.3% drop in May, while goods exports rose by 7.5% in June, following a 2.3% decline in May. The imports index went up sharply in June, by 9.5%, after its steep 7.3% drop in May.
Published by Globes [online], Israel business news - www.globes-online.com - on July 21, 2008
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