Wednesday, March 25, 2015

The Melnick State of the Economy Index Rose by 0.2 Percent in February


Moderate rate of growth of the business sector
Growth is led by private consumption

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The Melnick State of the Economy Index increased by 0.2 percent in February 2015. The rise in the index reflects continued economic growth at a moderate rate. The revenue in commerce and services, which reflects domestic demand and especially private consumption, decreased last month but, its level is high indicating high domestic demand that is leading the growth of the economy. The industrial production index continues to be affected by the weakness of activity in the world, and especially in Europe that prevents the growth of industrial production in accordance with its potential.  In the imports Index, which consists mainly of imported inputs for domestic production, as well as consumer goods, there were sharp drops in the last two months.  And the number of employee posts in the business sector is increasing, reflecting the growth of the economy and the growing demand for workers.

The February index components include: a decrease of 1.2% in the index of industrial production in January, following an increase of 0.8% in December; A decrease of 0.3% revenue in commerce and services in January, following an increase of 1.9% in December; A decrease of 5.6% in the imports index in February, after falling 8.6% in January, and an increase of 0.2% in the number of employee posts in the business sector in December, after rising 0.4% in November.

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