Bank Hapoalim economists noted that: Although the Consumer Confidence Index fell in January, its level over the past year was quite stable
Bank Hapoalim’s and TNS Teleseker’s Israeli Consumer Confidence Index fell by 1.6 points in January to a level of 130.0 (April 2002=100).
The Present Situation index fell by 1.2 points and the Expectations Index was down by 1.7 points.
Bank Hapoalim economists noted that: Although the Consumer Confidence Index fell in January, its level over the past year was quite stable. A downtrend was apparent in the Expectations Index in the last five months.
Economic indicators still show growth at a rate of 3%, which is slower than in recent years but positive relative to global conditions.
The unemployment rate remained stable, at a level of 5.4% according to CBS trend data. Private consumption indicators were mixed: Revenue in the commerce and services industries continued to fall, while credit card purchases increased.
The rate of increase in private consumption has slowed since the second half of 2011. Since consumer confidence has remained relatively stable, we do not expect a further slowdown in consumption.
The Consumer Confidence Index of Bank Hapoalim and TNS in Israel is based on a TNS Teleseker monthly poll covering a national sample of 1,000 respondents representing the vast majority of the adult (18+) population of Israel.