The Composite State-of-the-Economy Index for June 2011 increases by 0.2 percent from the May level
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The Bank of Israel's composite state-of-the-economy index for June 2011 increased by 0.2 percent from its May level . Over the first half of this year, the index has risen by 2.7 percent compared with the second half of 2010. The index data points to the continued expansion of economic activity, albeit at a more moderate pace in the second quarter of this year, compared with previous quarters. The increase in the index this month reflects an increase in the manufacturing production index and the trade and services revenue index. Declines were registered this month in the goods imports index and the services exports index.
The main components of the index moved as follows: The index of manufacturing production increased by 2.4 percent in May, after dropping 1.9 percent in April. The trade and services revenue index increased 1.8 percent in May, after a drop of 0.6 percent in April. The services exports index fell in June by 1.7 percent, following a gain of 8.8 percent in May. The index of imports of production inputs fell in June by 4.2 percent, following its 7.2 percent increase in May. The goods exports index increased by a slight 0.1 percent in June, following its 2.3 percent decline in May. The index of consumer goods imports decreased by 6.8 percent in June, following an increase of 7.7 percent in May.
[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.