consumer confidence index rose: Don't seem to consider the possibility of closure

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by Ifi Reporter Category:Capital Market Aug 19, 2020

In the first half of August, the sixth month of the corona crisis, the consumer confidence index rose, referring to the expected change in the economic situation in the country in the coming year. Consumers do not seem to be considering the possibility of another closure this time and a predicted outbreak of the flu pandemic ahead of winter. Data released by the Central Bureau of Statistics (CBS) shows that in the first half of August, the balance sheet relating to the expected change in the economic situation in the coming year rose to 29, compared with 45 in the second half of July and 40 in the first half of July. A more significant increase than the increase in the general confidence of the consumer public in the economy, which rose only from 32 in the second half of July to 27 in the first half of August.
One of those responsible for the survey told Ynet that there was a certain improvement, but it was not a significant improvement "and care must be taken with the data, because the difference is still small."
In the first half of August the balance sheet relating to the change in the economic situation of the household in the coming year stands at 9, after in the second half of July it stood at 12. The balance sheet relating to individuals' intentions to make large purchases in the coming year compared to the previous year stands at 39 in the first half of August, after standing at 46 in the second half of July.
The balance sheet relating to the change that has taken place in the economic situation of the household in the last year now stands at 30- and has increased after in the second half of July it stood at 26 and in the first half of July it was still at 21. Meaning: An increase of about 50% in the economic situation of households in Israel in the past year.
The Consumer Confidence Index is in the range of minus 100 and plus 100. The closer the index is to the upper limit, the more optimistic it is among citizens. The closer the index is to the lower limit, the more pessimistic it is. Thus, consumer confidence in Israel is still quite pessimistic, although there has been some improvement in August compared to July.
 

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