The Bank of Israel's monthly economic activity index rose 2.5% in June, far above the long-term trend of roughly 0.3%, reflecting the economy's exit from the low activity level during the peak of Operation Roaring Lion, according to N12 correspondent Lior Bakalo. The increase was driven by credit card spending, exports, imports, labor market, and stock exchange data.
The Bank of Israel's monthly index of economic activity jumped 2.5% in June — significantly above the long-term trend of about 0.3% — according to data reported by N12's Lior Bakalo. The surge marks a clear exit from the trough recorded during the peak of Operation Roaring Lion in March, when the economy contracted sharply amid the war with Iran.
The index gain aligns with a string of recent indicators pointing to a robust recovery: job vacancies crossed pre-war levels in June for the first time; credit card spending reached record highs; and the Bank of Israel cut its benchmark rate to 3.5% earlier this month, citing stabilizing inflation. As The Zioneer reported earlier today, the number of vacant jobs surpassed the pre-war total for the first time in June, led by hospitality and food sectors.
The central bank, however, has cautioned that the recovery is conditional on no renewed fighting. The June data suggests underlying momentum, but the sustainability of the upturn remains tied to the security situation, particularly on the Lebanese and Iranian fronts. The next full GDP report will provide a clearer picture of activity in the second quarter.
- StrongBank of Israel Cuts Rate to 3.5%, Warns Recovery Depends on No Renewed Fighting
- DevelopingIsrael's job vacancies surpass pre-war level for first time in June, led by hospitality and food sectors
- DevelopingJune credit card spending rises 23.6% to NIS 51.5 billion; online daily average tops NIS 1 billion for first time
- DevelopingIsraeli credit card spending hit record NIS 52.4 billion in May
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- Internal intake