Tuesday, May 26, 2015

The Melnick State of the Economy Index increased by 0.5 percent in April

Improvement in the business sector's growth
Expansion in industrial production

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Melnick State of the Economy Index increased by 0.5 percent in April 2015. The rise in the index reflects an improvement in the rate of economic growth.  Growth, in the first quarter of 2015, was led by industrial production, which reflects the supply side of the business sector, despite the moderating effect of the weakness in economic activity in Europe.  The revenue in the commerce and services continues to be high, reflecting high level of domestic demand particularly of private consumption.  The imports Index, which consists mainly of imports of inputs for domestic production but also consumer goods, displays large monthly fluctuations around a negative trend. The trend of employee posts in the business sector continues to rise, despite their decline in February, the trend reflects the growth of the economy and the demand for workers.

The April index components include: an increase of 4.8% in industrial production in March, after rising 2.9% in February; An increase of 0.1% revenue in commerce and services in March, after falling 0.8% in February; A decrease of 4.9% in the imports index in April, after rising 6.6% in March, and a decrease of 0.3% in the number of employee posts in the business sector in February, after rising 0.2% in January.

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