However, there were some bright spots, as consumers grow more optimistic about their personal economic condition.
The Consumer Confidence Index, compiled by Globes Research and Kesselman and Kesselman - PricewaterhouseCoopers Israel, fell by 1.4 points in July to 88.4 points (1996 baseline = 100), for the fourth consecutive monthly drop. The index has fallen 15 points since the swing to pessimism in April.
The three-month moving trend figure for May-July also fell by 3.6 points to 90.7 points, the lowest figure since September 2009.
The July figures were nevertheless mixed. The index showed rising consumer concern about the slowdown in the global economy and tepid figures for Israel's growth and exports, compared with the corresponding figures for early 2010. At the same time, consumers' pessimism about the future of the economy and the labor market eased, and expectations about their personal economic condition actually improved.
Published by Globes [online], Israel business news - www.globes-online.com - on August 4, 2010
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