The Bank of Israel announced on Tuesday that its Composite State of the Economy Index for January increased by two tenths of a percent, after increasing at a higher rate at the end of 2016. The index was positively affected by an increase in the import of components and an increase in the job vacancy rate.
A statement accompanying the announcement said, "In contrast, the import of consumer goods, which increased sharply at the end of 2016 due to the exceptional increase in vehicle purchases, declined sharply and returned to its normal level, thereby contributing to the moderation of the increase in the Composite Index. The increase in the Index was also moderated in January by the decline in the Industrial Production Index and in the trade and services revenue indices for December.