Index of Economic Activity Up 1.8%

Jerusalem, 29 October, 2025 (TPS-IL) — The Bank of Israel reported that the monthly Index of Economic Activity increased in September by 1.8%.

The regular Index was positively influenced by increases in credit card purchase data and in data on goods imports and exports in July and September, trade revenue and industrial production data for July, and labor market data for July–September, explained the Bank. In contrast, the purchasing managers index in the US for July and August and gasoline consumption data had a negative effect on the Index.

However, a broader look at average growth over a four-month period, which neutralizes the effect of the volatility resulting from the military operation against Iran, shows that the Index grew by only 0.2% in September, which is below the long-term trend (about 0.3%).

The regular Index was positively influenced by increases in credit card purchase data and in data on goods imports and exports in July and September, trade revenue and industrial production data for July, and labor market data for July–September. In contrast, the purchasing managers index in the US for July and August and gasoline consumption data had a negative effect on the Index.

The Index for recent months was revised upward in view of the excessive volatility of its reference period and the completion of data that were previously missing.