Against the background of the corona crisis, the consumer confidence index in October was 8%, down 1% from September, according to data from the Central Bureau of Statistics published today (Wednesday).
The consumer confidence index is in the range of minus 100 to plus 100. The closer the value of the index is to the upper limit, the more optimistic it is among individuals.
An index close to zero indicates a lack of expectations from a change in the existing situation.
The survey methodology, conducted among 21-year-olds and older, is in line with OECD guidelines for such surveys.
The country where the confidence index is best is Denmark with 7%, in second place is Sweden with 6% and in third place Finland with 5%.
Greece is at the bottom of the list with an index that stands at 45%.
According to the values of the index, which consists of four balance sheets, it has worsened in relation to the change in the economic situation of households in the past year, and it fell from 12% - in September to 18% - in October.
As for the balance sheet relating to the expected change in the economic situation in the country in the coming year, there has been an increase compared to recent months (- 1%), after falling to a negative value of 20% in August - a positive value of 4% in July.
The balance sheet relating to the expected change in the economic situation of the household in the coming year stands at a positive value of 9%, an increase from September, which stood at 7%.
The balance sheet is on an upward trend and its values are positive in the last two months, after falling to a negative value of 2% in August.
The balance sheet relating to the individuals' intentions for large purchases in the coming year compared to the previous year stands at 23%, a decrease of 5% from September.
In October 2020, its value was 45%, and since then it has been improving.
Among the non-employed, the value of the index stands at 14% - compared to 11% - in September, and it indicates greater pessimism than that of the employed - among them the index stands at 6% -, compared to 4% - in September.
Among those without a matriculation certificate, the value of the index stands at 16% - compared with 11% - in September and it indicates greater pessimism than those with a matriculation certificate, post-secondary certificate, and academic certificate - for whom the value of the index stands at 6% and 3%, respectively.
Among the Arab population, the value of the index fell to 22% - from 11% - in September, while in the Jewish population group the value of the index stands at 5%.
Queue for vaccinations in Tel Aviv, Photo: Yehoshua Yosef
From March 2020 to October 2020, against the background of the corona crisis and changes both in the morbidity situation and the application of restrictions and reliefs to the economy, volatility can be seen in the values of the consumer confidence index and its balances.
In March, with the application of restrictions on the population and economic activity, the index fell to 22% - from 6% - in February, and in April with the application of the first general closure, the index fell to 31%.
Even after the improvement that followed the easing in May and August, the values obtained were 14% - and 24% -, respectively.
These data are significantly lower than the values measured in the years 2019-2016.
In October, with the application of the second general closure, the consumer confidence index stood at 28%.
From November 2020, until July 2021, the consumer confidence index is on the rise.
In November, with the progress of the plan to exit the second blockade, the news of the agreements between Israel and companies developing vaccines for Corona and the expectation of their arrival in Israel, the consumer confidence index rose to 20%.
In December, with the start of the vaccination campaign, the consumer confidence index stood at 16%.
In January 2021, with the application of the third closure - in parallel with the expanding vaccination campaign, the consumer confidence index stood at 15%, and in February - at 12%.
In March and April, the index rose to 7% and 2%, respectively.
In August, in the shadow of the rise in morbidity data and the beginning of a series of restrictions, the index fell to 15%;
In September, it rose to 7%, since despite the morbidity data, no significant restrictions were added during the Israeli holidays and no closure was imposed on the population.