The Bank of Israel reported last week that the State of the Economy Index rose 0.7% in August 2007. In the three months period, June-August 2007, the index rose 2.4% .
The Bank of Israel said that the increase “demonstrates continuing rapid growth in economic activity.”
The The Bank of Israel noted that the State of the Economy Index has been rising by 0.7% - 0.9% per months since January 2007, and was up 6.5% in the eight months period January-August.
The rise in the index corresponds with growth estimates published recently by the Central Bureau of Statistics (CBI).