Business cycle mirrors stock market turning points, Israel study says


Turning points in the Israeli stock market precede changes in its business cycle by an average of seven months, according to central bank research released today (October 31).

The authors, Ariel Mantzura and Benzi Schreiber, analyse the relationship between turning points (from growth to decline and vice versa) in the stock market and the economy, between 1990 and 2010, using industrial stock and industrial production indexes.

This discovery provides the central bank with another forecasting

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