State of the Economy Index falls at slower pace

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The drop shows a continued fall in economic activity, though at a slower pace than in previous months.

The composite State of the Economy Index reported by the Bank of Israel fell 0.3% in April.

The drop shows a continued fall in economic activity, though at a slower pace than in previous months.

The continuing fall was seen in a drop in the manufacturing production index and in the drop in imports and exports of goods.

At the same time, the trade and services revenue index rose, as did service exports.

The March index was revised upward to -0.7% from -0.9%, while the January and February indices were each revised downward by 0.1 percentage point.

Published by Globes [online], Israel business news - www.globes-online.com - on May 21, 2009

The drop shows a continued fall in economic activity, though at a slower pace than in previous months.