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The Bank of Israel's Composite State of the Economy Index for October increased by 0.2 percent. The rate of increase in the Index continues to show a stable rate of growth in the economy in recent months.  Among the factors contributing to the increase in the Index were the increases in the export of goods and the import of manufacturing inputs in October.  In contrast, the decline in imports of consumer goods and in services exports where the main factors moderating the rate of increase in the Composite Index this month.  In addition, the moderation in the business product growth rate[1] during the third quarter, which led to an update of the Index’s growth rate for previous months to a slightly lower rate, which was maintained this month (Table 1).  Table 2 presents the development of components of the Index in the past few months.

[1] Quarterly business product growth data, which are not available at the time the monthly Composite Index is published, are included with a lag, such that the Index’s rate of increase expresses the monthly growth rate of business product over time.

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