The Melnick State of the Economy Index Increased by 0.4% in December

Expansion of the business sector continues

Domestic demand is still leading recovery

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The Melnick State of the Economy index increased by 0.4 percent in December 2009. Business sector activity continues to expand as the momentum of economic growth continues. Last month's indicators reflect stability at the levels recorded the previous month, after rising from the low levels that were reported in the first half of 2009. Domestic demand continues to lead the recovery, and even though a rise of the industrial production index is evident, it seems that global demand has not yet reached a sufficient level to support a momentum of export growth.

The components of December Index include: a decrease of 1.1% in the Industrial Production Index in November, after an increase of 2.0% in October; a decrease of 0.1% Revenue in Commerce and Services in November, after an increase of 1.0% in October; a decrease of 1% in the Imports Index in December, after an increase of 11.1% in November, and an increase of 0.4% in the number of employee posts in the business sector in October, after an increase of 0.1% in September.

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