The Israel Consumer Confidence Index, compiled by Globes Research and Kesselman and Kesselman - PricewaterhouseCoopers Israel, rose by 0.3 points in September to 93.8 points (1996 baseline = 100).
The move follows a rise of 5.1 points in August, and a drop of 1.4 points in July.
The trend figure (an average of the July, August, and September numbers) rose 1.3 points to 91.9 points.
September is the second consecutive month of higher consumer confidence, which follow fourth months of drops. It appears that Israeli consumers are influenced by positive data on the local economy, and are not all that frightened by pessimism over the US and European economies. US consumer confidence fell sharply in September.
While signs of a slowdown in Western economies earlier this year did raise the fear level for Israeli consumers, the positive economic figures from Israel in August-September (especially economic growth rates and employment data) highlight the difference between Israel's economy and those of other countries.
Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2010
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