Melnick State of the Economy Index Declined by 0.4% in April

The economic recession is deepening.
Economic activity in the business sector is shrinking

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The Melnick State of the Economy Index declined by 0.4 percent in April 2009. The trend of the Index's decline indicates that the economic recession is deepening and that economic activity in the business sector is shrinking. The decline of the Imports Index continues reflecting decline of import of inputs for local production. In addition, the Industrial Production Index and the number of employee posts in the business sector Index continue its decline. In March revenue in the Commerce and Services Index increased following a two-month decline.

The components of the April Index include: a decrease of 2.0% in the Industrial Production Index in March, after no change in February; a sharp increase of 4.0% in the revenue in commerce and services in March, after a decrease of 0.6% in February; a decrease of 2.0% in the Imports Index in April, after a decrease of 0.4% in March, and a decrease of 0.1% in the number of employee posts in the business sector in February, after a decrease of 0.6% in January.

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