Israeli Consumer Confidence Index for October 2012 down

The index fall by 1.1 points in October, as the Present Situation index fell by 6.0 points
 
Bank Hapoalim’s and TNS Teleseker’s Israeli Consumer Confidence Index fell by 1.1 points in October to a level of 123.5 (April 2002=100).
 
The Present Situation index fell by 6.0 points, while the Expectations Index rose by 2.2 points.
 
Bank Hapoalim economists: The Consumer Confidence Index fell for the fourth consecutive month in October, and is at its lowest level since June 2009.
 
Expectations surveys on the part of both consumers and employees are generally indicative of growing pessimism. However, actual data for recent months, including private consumption data, were quite favorable. We believe that the downturn in consumer confidence derives at least partly from tax hikes and from expectations of a rise in food prices.
 
The Consumer Confidence Index of Bank Hapoalim and TNS in Israel is based on a TNS Teleseker monthly poll covering a national sample of 1,000 respondents representing the vast majority of the adult (18+) population of Israel.