Israel's consumer confidence index fell 3.9 points in May, after rising for the fifth month in a row in April
Bank Hapoalim and TNS Teleseker, one of Israel's leading marketing research organizations specializing in quantitative and qualitative research techniques, reported last week that Israel's consumer confidence index fell 3.9 points in May, after rising for the fifth month in a row in April,
The report noted that "The level of the consumer confidence index remains one of the highest on record and it seems it will require really good news to bring it to a higher level”.
The Bank added that "The economic indicators remain good, including an improvement in the labor market, and this is evident in the present situation index, as opposed to growing fears over the future, perhaps on the heels of the developments in the world and the negative trends in the capital markets in light of the difficulties facing Greece and the euro zone”.
Consumer confidence index:
May 10Apr 10 Mar 10 June 09
135.0 138.9 135.0 121.1
Israel's economy grew 0.7% in 2009 and is forecast to grow 3.7% in 2010. In the first quarter, growth was an annualized 3.3% while the jobless rate stood at 7.2%.