State of Economy Index shows continued recovery
The Composite State of the Economy Index rose by 0.2% in January 2010, the Bank of Israel announced today. The index has risen for several months in a row, indicating that economic recovery is continuing.
The Bank of Israel, however, revised downwards the increase in the State of the Economy Index for November and December 2009 to 0.3% in each month from 0.4%.
The Bank of Israel attributed the rise in the State of the Economy Index in January to rises in the manufacturing production and trade and services revenue indices, which were partly offset by slower gains in the exports of goods and imports of consumer goods indices.
The index of manufacturing production rose 1.2% in December, after falling by 1.3% in November. The trade and services revenue index rose 0.6% in December, after rising 0.2% in November. The services exports index rose 8.2% in January, after falling slightly in December. The goods exports index was unchanged in January, after rising 7.4% in December.
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