Initial signs of (modest) slowing demand

ISRAEL - Report 28 Jun 2021 by Jonathan Katz

We estimate that private consumption demand declined modestly in June, following strong growth YTD. Shekel appreciation has erased the increase in import prices in shekel terms. The PMI is reflecting rapid growth in both export and domestic orders; raw materials prices have also increased. The new Minister of Finance is in favor of a declining debt/GDP ratio in the coming years.

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