The Composite State of Economy Index rose 0.3% in May 2011 over April the Bank of Israel reported today, and the index rose 2.3% in January-May, compared with the preceding five months.
The State of Economy Index was boosted by a rise in the index of services exports, and the goods imports index, which were partly offset by declines in the goods exports, manufacturing production, and the trade and services proceeds index. The index for April was unchanged.
The Bank of Israel revised the March index down from 0.4% to 0.2%, after the Central Bureau of Statistics lowered its indices for manufacturing production and trade and services proceeds.
The index of manufacturing production fell 1.6% in April, after remaining unchanged in March. The trade and services revenue index fell 0.6% in April, after dipping 0.1% in March. The services exports index rose 7.7% in May, reversing a 12.4% drop in April. The index of imports of production inputs rose 6.3% in May, after rising 0.7% in April. The goods exports index fell 3.5% in May, after falling 3.2% in April. The index of consumer goods imports rose 7.3% in May, after rising 1% in April.
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