Thursday, November 19, 2009

Melnick State of the Economy Index Increased by 0.3% in October

Activity in the business sector is moderately expanding
Economic recovery will be gradual and extended
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The Melnick State of the Economy Index increased by 0.3 percent in October 2009. Activity in the business sector is moderately expanding, following the positive turn in the economy that has taken place in the second quarter of 2009. Again, the components of the index display wide volatility from month to month, but as noted in the previous month, the overall positive trend continues. Apparently, the recovery of the economy will be gradual and extended. The degree of recovery will depend less on internal developments in the economy and more affected by the recovery of international markets, that will determine the potential of export growth.

The components of October Index include: a decrease of 0.9% in the Industrial Production Index in September, after an increase of 2.7% in August; a decrease of 0.4% Revenue in Commerce and Services in September, after an increase of 2.1% in August; a decrease of 7.3% in the Imports Index in October, after an increase of 5.6% in September, and an increase of 0.4% in the number of employee posts in the business sector in August, after a decrease of 0.7% in July.


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