The Melnick State of the Economy Index decreased by 1.2% in October 2010

A negative turn in the economic activity is apparent.

The decline in economic activity is concentrated in high tech industries

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The Melnick State of the Economy Index decreased by 1.2% in October 2010. A negative turn in the economic activity is apparent. Leading the downturn is the Index of Industrial Production; in the last two months it has declined by a total of 9.7%. The decline is concentrated in industrial production of High Technology Industries. This shift is probably related to a weakening that is developing in the economies of the developed world. The Index of Revenue in Commerce and Services maintains a stable high level, reflecting on the stability of domestic demand. An increase was registered in the Import Index, mainly due to import of inputs for domestic production.

The components of the Octber Index include: a decrease of 3.6% in the Industrial Production Index in September, after a decrease of 6.1% in August; a decrease of 0.8% in the Index of Revenue in Commerce and Services in September, after an increase of 0.7% in August; an increase of 6.7% in the Imports Index in October, after an increase of 1.3% in September, and an increase of 0.5% in the number of employee posts in the business sector in August, after a decrease of 0.3% in July.

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