Monthly Review of the State of the Economy /April 2013
Economic developments in the economy were positive, as reflected in the data published in the past month. An improvement was recorded in most areas of activity, most noticeably in the current indexes of real activity, the export of goods and the public's confidence - which was particularly evident in the Procurement Managers Index.
Headlines:
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Real activity: the real economy in January recorded a significant increase in Industrial Manufacturing and Turnover Indexes in all sectors of the economy.
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Tax collection: tax collection rose in comparison to February.
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Foreign trade: after declines in the preceding months, February recorded an increase in the export of goods, which resulted in a slight reduction in the trade deficit.
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The labor market: the labor market recorded a significant improvement in February, despite a slight increase in the rate of unemployment to 6.7%.
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The capital market: a positive trend was recorded in capital market activities in March.
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Public'sconfidence: an improvement was recorded in the public's confidence over the past month.
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Price stability: the rate of inflation in the Israeli economy remains below the mid-point of the inflation target. The Bank of Israel has not changed the market interest rate.
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Global indicators that are relevant to Israel: the developments in the global economy in recent months were primarily positive; the acute financial crisis in Cyprus and the political instability in Italy did not hinder the upward trend in the global stock markets.
All this and more can be seen in the attached review.
Courtesy of: Israel Ministry of Finance
