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

The growth momentum of the economy continues strongly.

Growth of industrial production joins the growth momentum of domestic demand, reflecting on an increase in demand from abroad.

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The Melnick State of the Economy Index increased by 0.8% in March 2011. Economy's growth momentum continues strongly. The Melnick Index indicates rapid economic growth in the first quarter of 2011. A rapid growth of the Industrial Production Index is prominent, reflecting, among other things, renew exports growth, fueled by improvements in western economies. In addition, the continuous growth in revenues in commerce and services reflects a strong increases of domestic demand and especially of private consumption. The Imports Index, which contains mainly imports of inputs for domestic production continues to grow as well.

The components of the March Index include: an increase of 2.1% in the Industrial Production Index in February, after an increase of 2.3% in January; an increase of 0.6% in the Index of Revenue in Commerce and Services in February, after an increase of 1.1% in January; an increase of 2.8% in the Imports Index in March, after an increase of 1.9% in February, and an increase of 0.1% in the number of employee posts in the business sector in January, after an increase of 0.2% in December.

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