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The Composite State-of-the-Economy Index for August 2010 rises by
0.2 percent
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The Bank of Israel's composite state-of-the-economy index rose by 0.2 percent in August 2010.[1],[2] The rise, following those in previous months, shows that the increase in economic activity is continuing. The rise this month was due to rises in the indices of manufacturing production, trade and services revenue, and services exports. These were partially offset by declines in the goods exports and imports indices.
The main components of the index moved as follows: the index of manufacturing production rose by 2.6 percent in July, following its 0.5 percent drop in June. The trade and services revenue index rose by 2.1 percent in July, following its 2 percent drop in June. The services exports index surged in August by 10.2 percent, following its 8.6 percent drop in July. The goods exports index fell by 8.1 percent in August, following its 2.4 percent rise in July. The index of consumer goods imports declined by 5.0 percent in August, after rising by 3.8 percent in July. The index of imports of production inputs fell in August by 6 percent, following its 1.7 percent rise in July.
Updated rates of change in composite index (in percent)
  Previous figure Revised figure
May 0.3 0.4
June 0.5 0.3
July 0.2 0.2
[1] In calculating the composite index, changes in its components (seasonally adjusted)—in both the current month and previous months with a lag—are taken into consideration.
[2] Due to the sensitivity of the model to retroactive adjustments to components of the index, additional end of sample data are taken into account, including the monthly revenue of the principal industries published since July this year by the Central Bureau of Statistics. A more detailed explanation of the revised method of calculation will appear soon on the Explanation page relating to the Composite State-of-the-Economy Index on the Bank's website.