Consumer confidence index down 3.9 points
Photo: Index Open
Consumer confidence index falls in May
Bank Hapolaim says economic indicators remain good, including improvement in labor market. Level of consumer confidence index remains one of highest on record
Israel's
consumer confidence index fell 3.9 points in May, after rising for the fifth month in a row in April, Bank Hapoalim and TNS Teleseeker said on Tuesday.
"The level of the consumer confidence index remains one of the highest on record and it seems it will require really good news to bring it to a higher level," Bank Hapoalim said in a report.
"The economic indicators remain good, including an improvement in the labor market, and this is evident in the present situation index, as opposed to growing fears over the future, perhaps on the heels of the developments in the world and the negative trends in the capital markets in light of the difficulties facing Greece and the euro zone.
"It should be noted that the index ended before the Israeli army's storming of the ships bound for the Gaza Strip."
Israel's economy grew 0.7% in 2009 and is forecast to grow 3.7% in 2010. In the first quarter, growth was an annualized 3.3% while the jobless rate stood at 7.2%.
