The Consumer Confidence Index, compiled by Globes Research and Kesselman and Kesselman - PricewaterhouseCoopers Israel, rose 1.8 points in March to 103.3 points (1996 baseline = 100). This continues rises of 5.6 points in February, and 3 points in January. In February, the index rose above 100 for the first time in ten years, and it rose further in March.
Trend figures, based on moving three-month periods, rose 3.4 points to 100.2. This is the highest level for the trend figure of the index since March, 1997.
Currently, there is no sign that a diplomatic crisis with the US or a worsening of the security situation has had any effect on the public's expectations. In fact, from a global perspective, Israel is an exception in this regard compared with industrialized nations outside of east Asia.
The index's rise in the first quarter came primarily from a sharp improvement in the public's assessment about the current economic situation. At the end of March, the net balance of the assessments the difference between optimistic and pessimistic views of the assessment of the current state of the economy was at a record high of negative 1.2 percentage points. This is nearly unprecedented, as even during strong economic times that component has remained well below zero.
Published by Globes [online], Israel business news - www.globes-online.com - on March 31, 2010
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