Israel | Economic Forecasts | 2016-2020 Outlook

Overview	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
GDP Growth Rate	1.60	0.7	0.9	0.7	0.8	1.2	percent	[+]
Unemployment Rate	4.30	5	4.8	4.8	5.1	5.5	percent	[+]
Inflation Rate	0.40	0.4	0.6	0.7	0.9	2.2	percent	[+]
Interest Rate	0.10	0.1	0.1	0.1	0.25	1.25	percent	[+]
Balance of Trade	-702.90	-789	-1013	-646	-997	-992	USD Million	[+]
Government Debt to GDP	64.80	64.5	64.5	64.5	64.5	65	percent	[+]

MARKETS	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Currency	3.63	3.69	3.72	3.76	3.83	4.38		[+]
Stock Market	1269.76	1270	1250	1240	1220	1020	points	[+]
Government Bond 10Y	2.25	2.35	2.38	2.4	2.42	2.8	percent	[+]
GDP	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
GDP Growth Rate	1.60	0.7	0.9	0.7	0.8	1.2	percent	[+]
GDP Annual Growth Rate	3.80	3.2	3.1	3.3	3.8	3.8	percent	[+]
GDP Growth Annualized	6.50	2.7	3.5	2.8	3	3.6	percent	[+]
GDP	299.40	309	311	313	315	333	USD Billion	[+]
GDP Constant Prices	274506.70	267000	267000	282771	269000	283000	ILS Million	[+]
Gross National Product	310158.40	310629	314035	319109	323534	365052	ILS Million	[+]
Gross Fixed Capital Formation	58599.71	59336	60035	60536	60907	62146	ILS Million	[+]
GDP per capita	33116.80	33156	33199	33242	33285	35216	USD	[+]
GDP per capita PPP	31969.54	31730	31835	31940	32045	33923	USD	[+]
GDP From Agriculture	2935.90	3380	3380	2714	3430	3470	ILS Million	[+]
GDP From Construction	14008.60	13044	13645	13641	14069	14427	ILS Million	[+]
GDP From Manufacturing	32115.60	31717	31513	31544	31696	31620	ILS Million	[+]
GDP From Public Administration	37168.80	38910	38822	38032	38338	41273	ILS Million	[+]
GDP From Services	12608.30	11995	12372	12194	12257	12281	ILS Million	[+]
GDP From Transport	9653.60	8514	9025	9058	9090	9586	ILS Million	[+]
GDP From Utilities	4380.30	3627	3585	3809	3595	3638	ILS Million	[+]
LABOUR	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Unemployment Rate	4.30	5	4.8	4.8	5.1	5.5	percent	[+]
Employed Persons	3765.90	3812	3839	3866	3893	4211	Thousand	[+]
Unemployed Persons	181.61	196	185	199	191	190	Thousand	[+]
Job Vacancies	89104.00	91404	90791	90607	90540	90507		[+]
Wages	9872.70	9986	10040	10096	10152	10832	ILS/Month	[+]
Wages in Manufacturing	113.70	110	110	110	110	110	Index Points	[+]
Minimum Wages	5000.00	4899	4899	4899	4899	5300	ILS/Month	[+]
Population	8.63	8.48	8.52	8.56	8.6	9.17	Million	[+]
Retirement Age Women	63.00	63	63	63	63	64		[+]
Retirement Age Men	68.00	68	68	68	68	69		[+]
Labor Force Participation Rate	64.10	64.07	64.03	64.04	64.03	64.04	percent	[+]
Employment Rate	61.20	60.8	60.8	61.17	61.1	61.4	percent	[+]
PRICES	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Inflation Rate	0.40	0.4	0.6	0.7	0.9	2.2	percent	[+]
Consumer Price Index CPI	99.80	99.8	99.79	99.79	99.78	99.7	Index Points	[+]
Core Consumer Prices	99.50	99.42	99.38	99.26	99.35	99.35	Index Points	[+]
Core Inflation Rate	0.10	0.17	0.22	0.25	0.28	0.3	percent	[+]
GDP Deflator	112.66	113	114	114	113	113	Index Points	[+]
Producer Prices	91.70	91.62	91.53	91.54	91.54	91.54	Index Points	[+]
Export Prices	101.70	107	107	101	107	109	Index Points	[+]
Import Prices	90.20	89.31	89.22	89.26	89.44	89.39	Index Points	[+]
Food Inflation	0.20	1.35	1.82	1.87	1.89	1.89	percent	[+]
Cpi Transportation	98.50	98.67	98.76	98.49	98.49	98.51	Index Points	[+]
Inflation Rate Mom	0.00	0.17	-0.01	0	-0.03	-0.02	percent	[+]
MONEY	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Interest Rate	0.10	0.1	0.1	0.1	0.25	1.25	percent	[+]
Interbank Rate	0.10	0.1	0.09	0.09	0.09	0.09	percent	[+]
Money Supply M1	334843.00	338333	348782	358361	367227	434742	ILS Million	[+]
Money Supply M2	761159.00	769342	786328	801978	817256	994304	ILS Million	[+]
Money Supply M3	862057.00	966148	986311	1006846	1027769	1313876	ILS Million	[+]
Foreign Exchange Reserves	102028.00	102792	105263	107058	108602	124570	USD Million	[+]
Banks Balance Sheet	1464829.00	1477495	1486233	1493668	1500084	1534286	NIS Million	[+]
Deposit Interest Rate	0.50	0.58	1.2	1.82	2.45	2.09	percent	[+]
Private Debt to GDP	122.96	122	122	123	123	134	percent	[+]
Central Bank Balance Sheet	397817.00	400399	401178	401225	401307	401297	NIS Million	[+]
TRADE	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Balance of Trade	-702.90	-789	-1013	-646	-997	-992	USD Million	[+]
Exports	4393.00	4876	4444	4820	4434	4440	USD Million	[+]
Imports	5096.00	5526	5455	5351	5407	5390	USD Million	[+]
Current Account	3257.00	3105	2955	2684	3050	2937	USD Million	[+]
Current Account to GDP	4.14	4	4	3.64	4	3.3	percent	[+]
External Debt	91079.80	90963	90990	91007	91005	91014	USD Million	[+]
Terms of Trade	112.75	116	116	115	115	115	Index Points	[+]
Capital Flows	3347.80	3932	3888	3490	3549	3277	USD Million	[+]
Foreign Direct Investment	10647.10	18400	18400	10562	19400	22100	USD Million	[+]
Remittances	1324.10	1296	1292	1329	1301	1310	USD Million	[+]
Tourist Arrivals	233.70	249	246	248	247	247	Thousand	[+]
Terrorism Index	5.25	5.63	5.65	5.66	5.68	6.18		[+]
Weapons Sales	710.00	555	596	637	633	555	USD Million	[+]
Crude Oil Production	0.40	0.4	0.4	0.4	0.4	0.4	BBL/D/1K	[+]
GOVERNMENT	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Government Debt to GDP	64.80	64.5	64.5	64.5	64.5	65	percent	[+]
Government Budget	-2.15	-2.7	-2.7	-2.14	-2.7	-2.6	percent of GDP	[+]
Government Budget Value	-2900.00	-7042	-9126	-2477	-6952	-6316	ILS Million	[+]
Government Spending	60986.12	61342	61752	62163	62575	67384	ILS Million	[+]
Government Revenues	23926.00	27939	26573	26980	26914	26934	ILS Million	[+]
Fiscal Expenditure	26712.00	35687	32183	30993	30591	30405	ILS Million	[+]
Military Expenditure	17511.90	17704	17771	17838	17805	17091	USD Million	[+]
Government Spending To Gdp	40.80	40.96	40.93	40.91	40.88	40.82	percent	[+]
BUSINESS	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Business Confidence	21.30	17.5	17	16.5	15.9	20.4		[+]
Industrial Production	-2.20	0.36	1.55	2.32	2.78	3.43	percent	[+]
Industrial Production Mom	-0.40	3.9	3.9	0.29	-0.1	0.7	percent	[+]
Changes in Inventories	1692.30	499	676	690	737	710	ILS Million	[+]
Leading Economic Index	0.23	0.2	0.1	0.2	0.3	0.2	percent	[+]
Manufacturing Pmi	61.20	60.97	61.65	61.66	61.66	61.66		[+]
Manufacturing Production	-2.30	1.37	1.63	1.9	2.04	2.16	percent	[+]
Mining Production	30.90	27.53	29.93	27.91	29.1	28.68	percent	[+]
Ease of Doing Business	52.00	46.85	47.26	47.67	48.07	44.14		[+]
Competitiveness Index	5.18	5.04	5.04	5.04	5.04	5.42	Points	[+]
Competitiveness Rank	24.00	27.43	27.43	27.57	27.62	20.86		[+]
Corruption Index	64.00	62	63	64	65	63	Points	[+]
Corruption Rank	28.00	30.98	29.87	28.75	27.64	11.1		[+]
CONSUMER	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Consumer Confidence	-16.20	-8.5	-9.4	-8	-7.4	-15		[+]
Consumer Spending	161249.49	162570	163879	165185	166488	182038	ILS Million	[+]
Private Sector Credit	865637.00	869110	872952	876605	880062	908700	ILS Million	[+]
Bank Lending Rate	3.48	3.47	3.47	3.47	3.47	3.47	percent	[+]
Retail Sales Mom	2.70	-0.16	0.1	0.22	0.19	0.17	percent	[+]
Retail Sales Yoy	2.20	1.71	1.84	1.85	1.88	1.88	percent	[+]
Economic Optimism Index	119.90	122	125	127	121	131	Index Points	[+]
Consumer Credit	489.62	498	506	515	523	619	ILS Billion	[+]
Gasoline Prices	1.64	1.65	1.66	1.66	1.66	1.66	USD/Liter	[+]
HOUSING	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Housing Index	404.40	413	418	424	430	489	Index points	[+]
Building Permits	595.00	823	824	824	824	824		[+]
Housing Starts	12777.00	12238	12082	11986	11954	12048		[+]
TAXES	Actual	Q1/17	Q2/17	Q3/17	Q4/17	2020
Corporate Tax Rate	25.00	25	25	25	25	25	percent	[+]
Personal Income Tax Rate	50.00	50	50	50	50	50	percent	[+]
Sales Tax Rate	17.00	17	17	17	17	17	percent	[+]
Social Security Rate	19.50	19.5	19.5	19.5	19.5	19.5	percent	[+]
Social Security Rate For Companies	7.50	7.5	7.5	7.5	7.5	7.5	percent	[+]
Social Security Rate For Employees	12.00	12	12	12	12	12	percent	[+]