The Bank of Israel’s Composite State of the Economy Index increased by 0.2 percent in February 2015, similar to its average growth in 2014. In previous months, the index rose more rapidly, reflecting a large extent the recovery of the economy from Operation Protective Edge and the sharp increase in vehicle purchases that derived from changes in taxation.
The Index for February was positively impacted by an increase in building starts in December, an increase in trade revenue in January, and a continued increase in the job vacancy rate in February. The Index’s rate of increase in February was moderated by declines in import and export components and a decline in industrial production. There were no material changes in the pace of the index’s increase in previous months.