Sunday, December 21, 2008

Melnick State of the Economy Index Declined by 0.3% in November

The Index continues to indicate a worsening in economic activity. The most noticeable decline is in domestic demands.

The Melnick State of the Economy Index declined by 0.3 percent in November. November's Index keeps continues to show deterioration on the state of the economy. Most of the deterioration resulted from the decline in revenue in the commerce and services which reflect a decline in domestic demand, especially in private consumption. Industrial production registered an increase, though at a lower rate than the last month's decline.

The components of the November Index include: increase of 1.9% in the Industrial production index in October, after a decrease of 6.5% in September; a decrease of 2.2% in the revenue in commerce and services in October, after an increase of 1.4% in September; an increase of 1.3% in the Imports index in November, after a decrease of 1.0% in October, and an increase of 2.4% in the number of employee posts in the business sector in September, after a decrease of 0.1% in August.

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