The composite State of the Economy Index reported by the Bank of Israel fell 0.9% in March. The drop was less than the falls in previous months.
In February, the index fell 1.1%, and in January it fell 1.2%.
Nonetheless, the negative index points to a continued drop in economic activity, a fall which began in the last quarter of 2008.
The composite index reflects several components. The trade and services revenue index fell, as did imports of goods. However, goods and services exports rose, including a slight rise in manufacturing production.
Published by Globes [online], Israel business news - www.globes-online.com - on April 26, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009