Consumer confidence in the Israeli economy continues to recover slowly: Index stood at minus 22%

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by Ifi Reporter Category:Capital Market Nov 21, 2020

Consumer confidence in the Israeli economy continues to recover slowly: in the first half of November the index stood at minus 22%, while in the second half of October the index stood at minus 26% and in the first half of October, during the second closure, consumer confidence stood at minus 32%. This emerges from a public trust survey published by the Central Bureau of Statistics. However, the negative value of the index indicates that consumers in Israel are still cautious when it comes to economic stability.
The consumer confidence index is in the range of minus 100 and plus 100. The closer the index value is to the upper limit, the greater optimism among individuals, and the closer the index value is to the lower limit, the more pessimistic it is. An index close to zero indicates a lack of expectations for a change in the current situation.
The index consists of an average of four balance sheets: the change in the economic situation of the household in the last 12 months, the expected change in the economic situation of the household in the next 12 months, the expected change in the economic situation in Israel in the next 12 months and intentions for large purchases, such as furniture and products Electricity, in the next 12 months compared to the last 12 months.
The balance sheet relating to the expected change in the economic situation of the household in the coming year stands at a positive value of 3% and indicates cautious optimism (in the second half of October stood at 2%); The balance sheet relating to the expected change in the economic situation in the country in the coming year stands at minus 26%, after rising to minus 28% from minus 42% in the first half of October in the second half of October.
Since the beginning of the crisis in Israel, during March, there has been a decline in the value of the consumer confidence index and in the balances that make it up. Thus, with the application of restrictions on the population and economic activity in March, the index fell from minus 6% in February to minus 22%, and in April with the application of the first general closure the index fell to minus 31%. In May-August, the value of the index improved significantly, but the second closure during the Tishrei holiday period led to a further decline.

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