The Composite State-of-the-Economy Index for September 2011 increases by 0.3%

The increase in the index this month reflects increases in the export of goods and services indices

The Bank of Israel's composite state-of-the-economy index for September 2011 increased by 0.3% from its August level . The index data indicates that in recent months the expansion of economic activity has continued, albeit at a more moderate pace than in the first quarter of this year.

The increase in the index this month reflects increases in the export of goods and services indices, which were offset by declines in the index of goods imports, the manufacturing production index, and the trade and services revenue index. In light of a downward revision by the Central Bureau of Statistics to the services exports index for August, and in the trade and services revenue index for July, the composite index was revised slightly lower for those months.

The main components of the index moved as follows:
The index of manufacturing production declined by 0.6% in August, after increasing 1.9 percent in July.

The trade and services revenue index declined 3.2% in August, continuing a decline of 0.7 percent in July.

The services exports index rose in September by 5.3%, following a decline of 3.8% in August.

The index of imports of production inputs declined in September by 0.7%, following its 1% increase in August.

The goods exports index increased by 1.4% in September, following a 4.2% decline in August. The index of consumer goods imports fell by 0.5% in September, following an increase of 0.4% in August.