Israel Economic Outlook
April 2, 2019Growth appeared to dim slightly in the first quarter of the year. The unemployment rate ticked up in January and February in annual terms, while the manufacturing PMI was in negative territory in the same period amid lower purchasing activity by firms. That said, the economy remained on a firm footing; the labor market was still healthy despite the rise in unemployment, which should have buttressed consumer spending, while elevated business sentiment likely supported investment. This comes after growth accelerated in Q4 2018 in SAAR terms amid a pick-up in domestic demand. On the political front, the country is gearing up for elections on 9 April, with incumbent Benjamin Netanyahu and Benny Gantz, leader of the centrist Blue and White coalition, the favorites to become the next prime minister. Irrespective of the result, a notable shift in economic policy is unlikely.
Israel Economic GrowthThe economy should expand at a robust pace this year, supported by loose fiscal policy, strong wage growth and healthy external demand for high-tech exports. Moreover, the development of the Leviathan gas field should boost investment. Regional geopolitical tensions and rising global trade protectionism pose downside risks to growth. Met the why particular analysts expect growth of 3.2% in 2019, which is unchanged from last month’s forecast, and 3.2% again in 2020.
Israel Economy Data
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|Bond Yield||2.01||-1.69 %||Apr 11|
|Exchange Rate||3.58||-0.37 %||Apr 12|
|Stock Market||1,473||-0.91 %||Apr 12|
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Israel Economic News
April 16, 2019
Exports expanded 5.2% in March in USD terms, up from February’s 2.4% growth, while imports were up 4.9%, contrasting a 7.4% contraction in February.
April 15, 2019
Consumer prices rose 0.5% in March over the prior month, up from February’s 0.1% rise.
April 11, 2019
Confidence among Israeli household improved from minus 11 in February to minus 8 in March.
April 8, 2019
At its 8 April meeting, the Monetary Committee of the Bank of Israel (BoI) kept the interest rate unchanged at 0.25%, as had been widely expected by market analysts.
March 27, 2019
On 9 April Israelis head to the polls to choose the 120 members of the Knesset, the country’s unicameral parliament.