The Melnick State of the Economy Index decreased by 0.2% in September 2011

There has been a bad turn in  the  economy.
Particularly notable turn for the worst in revenue in commerce and services, reflecting domestic demand.

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The Melnick State of the Economy Index decrease by 0.2 percent in September 2011. There has been a turn for the worse in the economy.  Index of September was affected particularly by the decline in revenue in commerce and services that reflect local demand, especially private consumption. It is important to note that during the last crisis strength of domestic demand reduced the harm to the economy caused by the decline in foreign demand, which caused a sharp decline in exports. The weakness in the global economy is reflected in industrial production, which is the main source of exports. During the first half of 2011 there has been no increase in the level of industrial production and last month there has been a downturn.

The components of the August Index include: a decrease of 0.6% in the Industrial Production Index in August, after an increase of 1.9% in July; a decrease of 3.2% in the Index of Revenue in Commerce and Services in August, after a decrease of 0.7% in July; a decrease of 1.8% in the Imports Index in September, after an increase of 1.0% in August, and no change in the number of employee posts in the business sector in July, after a decrease of 0.1% in June.

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