Wednesday, January 28, 2015

The Melnick State of the Economy Index Rose by 0.1 Percent in December

Slow growth in the business sector

Unusual rise of the imports index

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The Melnick State of the Economy Index increased by 0.1 percent in December 2014.  Economic growth continues at a moderate pace.  The imports index, which consists mainly of imported inputs for domestic production as well as consumer goods, increased exceptionally by 13.1 percent, and pulled up the entire index, this may be an indication of a future production and private consumption rise in the coming months. Considerable weakness is noted in the development of industrial production. The revenue in commerce and services, which reflects domestic demand, especially private consumption, decreased but it is still at high level. The number of employee posts in the business sector fell, after rising in the previous month, and its level reflecs stability in the labor market.

The December index components include: a decrease of 0.7% in the index of industrial production in November, after falling by 2.2% in October; A decrease of 0.7% revenue in commerce and services in November, after falling 0.5% in October; An increase of 13.1% in the imports index in December, after falling 1.3% in November, and a decrease of 0.2% in the number of employee posts in the business sector in October, after rising 1.4% in September.

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