The Melnick State of the Economy Index increased by 0.6 percent in July 2009. The decline in the economic activity seems to be near the end and we may very well be at a positive turning point in the current crisis. Recent updated data from the Israeli Central Bureau of Statistic has changed June's Index as well and has risen to an increase of 0.3 percent. The Industrial Production Index, which reflects the supply of the business sector, and the Revenue in Commerce and Services Index, which reflects mostly the demand, both increased sharply in June. The Imports Index, which reflects import of inputs for domestic production, continued to increase in July following an increase in June. The number of employee posts in the business sector index, which reflects demand for employees, continued to decline, which reflects the weakness of the labor market.
The components of June Index include: An increase of 2.1% in the Industrial Production Index in June, after a decrease of 0.3% in May; an increase of 3.4% in the Revenue in Commerce and Services in June, after an increase of 0.3% in May; an increase of 4.5% in the Imports Index in July, after an increase of 5.6% in June; and a decrease of 0.1% in the Employee Posts in the Business Sector in May, after a decrease of 0.5% in April.
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