The Bank of Israel's Composite State of the Economy Index for May increased by .13 percent. The bank said, "The Index’s average rate of growth from the beginning of the year is similar to its average pace for 2018, but the pace of expansion moderated in May due to declines in consumer goods imports and in exports, and because of a decline in building starts in March."
The bank explained, "The decline in consumer goods imports occurred, among other things, because of vehicle purchases being brought forward to the first quarter (in view of the expected change in the green taxation regulations), and, based on past experience, building starts data may be revised upward. The Index was positively impacted by increases in the industrial production index and in revenue indices for April."