Composite State of the Economy Index Down in July

Jerusalem, 25 August, 2025 (TPS-IL) — The Bank of Israel reported that the Composite State of the Economy Index declined in July by 0.64%.

This decline still reflects Operation Rising Lion’s (the June conflict with Iran) impacts on the components comprising the Index from June, explained the Bank. In contrast, the Index components that have been reported thus far for July have increased, reflecting an improvement in economic activity following the military operation.

The Composite State-of-the-Economy Index is a synthetic indicator for examining the direction of the development of real economic activity, in real time. It is calculated based on 10 different indicators: the industrial production index; the trade revenue index; the services revenue index; consumer goods imports; imports of manufacturing inputs; goods exports; services exports; the number of employee posts in the private sector; the job vacancy rate and the number of building starts.

The Index is calculated by the Bank of Israel’s Research Department once a month, close to the date that the Industrial Production Index is published by the Central Bureau of Statistics.