Tel Aviv, May 1 -- The Composite State of the Economy Index increased in March by 0.25 per cent, and the Index readings for January and February were revised upward, reflecting continued slightly moderate growth in economic activity in the first quarter of the year.

The Bank of Israel reported that the Index was positively influenced by increases in the import of consumption goods, the import of production inputs, goods exports, and credit card purchases (March), and the Industrial Production Index, the services revenue index, and the retail trade revenue index (February). In contrast, services exports, employee posts (January) declined, which negatively influenced the index.

The Composite State-of-the-Economy Index is a synthetic indic...