ISRAEL
Analyst
Sani Ziv
UN Economic ConsultantRecent Country Insights
Production abroad, led by Nvidia, is becoming a significant driver of Israel’s GDP growth
ISRAEL · In Brief · 21 Aug 2026
The release of the Q2 national accounts has renewed the discussion over the growing impact of production abroad by Israeli companies on Israel’s GDP, and particularly the contribution of Mellanox, acquired by Nvidia in 2020, to recent GDP growth. The discussion intensified after the CBS began pub...
Israel’s recovery loses some momentum at the start of Q3
ISRAEL · In Brief · 20 Aug 2026
The Bank of Israel’s new monthly activity index declined by 0.12% in July, following a strong 15.4% annualized increase in Q2. The index is still 1.8% above its February level, pointing to a significant recovery in activity following the war with Iran. The three-month measure increased by 0.5%, a...
Inflation expectations edge higher as economic activity rebounds
ISRAEL · In Brief · 18 Aug 2026
Forecasters’ inflation expectations increased slightly to 2.0% in August, from 1.9% in July and 1.8% in June. The increase followed a slightly higher-than-expected July CPI reading of 0.3%, compared with market expectations of 0.1%-0.2%. We expect the August CPI to rise by 0.8%, which could also ...
Weekly report, August 17, 2026: Strong macroeconomic data meets political and geopolitical woes
ISRAEL · Report · 17 Aug 2026
Key headlines: * Israel’s macroeconomic fundamentals continued to surprise positively. July inflation declined to 1.5%, while Q2 GDP rebounded by 15.9% annualized, much more strongly than expected. * The September 1 Bank of Israel decision is becoming a close call. Strong growth, rapid wage...
High-tech employment remains stable, but AI is changing hiring patterns
ISRAEL · In Brief · 11 Aug 2026
In recent months, the debate regarding the impact of AI on the labor market has intensified. This has been driven by a growing number of announcements from technology companies about layoffs and efficiency measures. Against this backdrop, a recent survey by the Israel Innovation Authority and Zvi...
Weekly report, August 10, 2026: Israel's election campaign heats up; the budget "miracle" continues
ISRAEL · Report · 10 Aug 2026
Key points: Israel's election campaign is advancing ahead of the October 27 election. The latest polls continue to show a highly divided political map. The current coalition, led by Likud together with the ultra-Orthodox and right-wing parties, has around 50 seats. The opposition has around 59...
Weekly report, August 3, 2026: Markets remain resilient despite geopolitical uncertainty
ISRAEL · Report · 03 Aug 2026
The weekend was dominated by reports that the United States was preparing strikes against Iran's energy infrastructure, including power plants. The prospect of attacks on critical energy facilities pushed oil prices higher and increased concerns that Israel could be drawn into the war. However, P...
The labor market remains tight in June
ISRAEL · In Brief · 28 Jul 2026
Although the unemployment rate increased to 2.9% in June from 2.8% in May, the labor market remains generally tight. For the main age group (25-64, closely followed by the BoI) unemployment remained stable at a low 2.7% with the labor participation rate stable at 80.9%. In June, total job opening...
Weekly report, July 27, 2026: The risk of another round of fighting with Iran will shape the outlook for inflation, rates and the budget
ISRAEL · Report · 27 Jul 2026
The past week was dominated by the escalation of the war between the United States and Iran and the increased likelihood that Israel might become directly involved. Financial markets have so far reacted in a measured manner: The shekel depreciated by around 1% against the U.S. dollar, while Israe...