The Central Bureau of Statistics reported that Consumer Confidence in Israel increased to -28.45 in December of 2013 from -28.62 in November of 2013.
Consumer Confidence in Israel averaged -24.22 from 2011 until 2013, reaching an all-time high of -12.65 in June of 2011 and a record low of -38.47 in September of 2012.
Consumer confidence is an indicator designed to measure the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation.
The indicator is an arithmetic mean, with equal weights, calculated from the combination of responses to 4 questions based on a sample of around 759 people, aged 21 and over.
Consumer confidence is measured on a scale of -100 to 100, where -100 indicates an extreme lack of confidence, 0 indicates neutrality and 100 indicates extreme confidence. If consumer confidence is higher, consumers are making more purchases, boosting the economic expansion. On the other hand, if confidence is lower, consumers tend to save more than they spend, prompting the contraction of the economy.