The Melnick State of the Economy Index increased by 0.8% in February 2011

The economy's growth momentum continues.

Domestic demand continued to lead economic activity.

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The Melnick State of the Economy Index increased by 0.8% in February 2011. The economy continues to grow strongly. The main components of the Melnick Index show an upword economic momentum in early 2011. The Industrial Production Index increased and compensated for its decline in August and September of 2010. The Index of Revenues in Commerece and Services continues to grow, thus reflecting on a high level of domestic demand- especially of private consumption. In addition, the Index of Imports, which contains mainly imports of inputs for domestic production, continues to increase.

The components of the February Index include: an increase of 2.6% in the Industrial Production Index in January, after a decrease of 0.1% in December; an increase of 1.8% in the Index of Revenue in Commerce and Services in January, after a decrease of 0.4% in December; an increase of 2% in the Imports Index in February, after an increase of 8.2% in January, and an increase of 0.2% in the number of employee posts in the business sector in December, after a decrease of 0.1% in November.

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