Back to routine: Consumer confidence index in March rose to 7% - like the value in February 2020

Returning to the routine, also on the economic side: The consumer confidence index in March rose to 7% - compared to 12% - in the previous month, and similar to the value measured in February 2020, on the eve of the corona crisis, then the index stood at 6%. This is what the Central Bureau of Statistics publishes today (Tuesday).
The balance sheet relating to the individuals' intentions for large purchases in the coming year compared to the previous year stands at 24%, similar to February; The balance sheet has been improving since October, when it stood at 45%. The balance sheet relating to the change in the household's economic situation in the past year remains stable at 24% - similar to the previous month.
From March 2020 to October 2020, against the background of the corona crisis and the changes both in the morbidity situation and in the application of restrictions and reliefs to the economy, declines were recorded
Sharpness in the values ​​of the consumer confidence index and its balances: In March, with the application of restrictions on the population and economic activity, the index fell to 22% - from 6% - in February, and in April with the application of the first general closure, the index fell to 31%. Even after the improvement that followed the easing in May (14%) and August (24%), values ​​were significantly lower than the values ​​in 2019-2016. In October, with the application of the second general closure, the consumer confidence index stood at 28%.
As of November 2020, the consumer confidence index is on the rise. With the progress of the plan to exit the second quarantine, the news of the agreements between Israel and companies developing vaccines for Corona and the expectation of their arrival in Israel, the consumer confidence index rose to 20% in November. In December, with the start of the vaccination campaign, the consumer confidence index stood at 16%. In January, with the application of a third general closure on the population, in parallel with the expanding vaccination campaign, the consumer confidence index stood at 15%, and in February at 12%.
The consumer confidence index is within 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 balances: 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 Electricity, in the next 12 months compared to the last 12 months.
The biggest impact on the consumer confidence index is that of the balance sheet, which refers to the expected change in the economic situation in the country in the coming year, which rose to a positive value of 9%, a value of 6% - in February. This is the first time, since the beginning of the March 2011 survey, that this balance has been positive and this indicates cautious optimism of the individuals regarding the economic situation in the country in the near future. 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 10% compared to 5% in February.