Globes: Over the past week, the shekel has been the strongest currency in the world against the US dollar, strengthening by 0.8% while the dollar weakened on average by 0.5% against the basket of major currencies.
Secondly, the Tel Aviv Stock Exchange TA Index rose by 3% last month, more than the average rise of 3% by European stocks and slightly below the S&P 500's rise of 3.4%.Thirdly, the gap between 10-year Israeli government bonds and their US counterparts narrowed by 0.5% over the past three weeks.
Fourthly 108,000 new jobs were created in the Israeli economy between April and June 2024.
Fifthly the average salary in Israel in July 2024 was NIS 13, 591, up 6% from July 2023.
Zabezhinsky says that investors understand that despite concerns about the war in Lebanon, "It is clear that the consequences are less threatening on the routine operation of the economy." If the market is right, Zabezhinsky's assessment is that growth in Israel will be higher than expected.
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