The Melnick State of the Economy Index Declined by 1.2% in February

The Recession is Deepening

Decline in imports of inputs for domestic production and in the index of Industrial Production

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The Melnick State of the Economy Index declined by 1.2 percent in February 2009; the recession is deepening. The index was influenced by continuing declines in the import of inputs for domestic production and in the industrial production index, and by low levels of revenue in commerce and services, following a 5 percent decline in the previous month.

The components of the February Index include: a decrease of 1.2% in the Industrial production index in January, after an increase of 0.8% in December; an increase of 0.3% in the revenue in commerce and services in January, after an decrease of 5.0% in December; a decrease of 6.9% in the Imports Index in February, after a decrease of 0.4% in January, and a decrease of 1.0% in the number of employee posts in the business sector in December, after a decrease of 1.2% in November.

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