The Melnick State of the Economy Index increased by 0.3% in July 2011

Economic growth continues.

An improvement was registered in industrial production, domestic demand, and employment in the business sector.

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The Melnick State of the Economy Index increased by 0.3 percent in June 2011. Economic growth continues. A revision of CBS data erased the signs of a slowdown that appeared in the May index, and the updated index of June shows a continued growth of the economy. Growth of the industrial production index continues, which reflects the expansion of the business product supply. In addition, revenues in commerce and services increased, reflecting on an increase of domestic demand and especially of private consumption. Business sector employment continues to increase in accordance with the increase in the number of employee posts in the business sector.

The components of the June Index include: an increase of 2.4% in the Industrial Production Index in May, after a decrease of 1.9% in April; an increase of 1.8% in the Index of Revenue in Commerce and Services in May, after a decrease of 0.5% in April; a decrease of 5.8% in the Imports Index in June, after an increase of 7.8% in May, and an increase of 0.2% in the number of employee posts in the business sector in April, after an increase of 0.1% in March.

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