Monday, June 22, 2015

The Melnick State of the Economy did not change in May

Growth in the business sector has halted
Domestic demand continues to rise

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The Melnick State of the Economy Index did not change in May 2015. The Index stability reflects the halt of the growth rate of the economy. The standstill of the Index is mainly due to a downward revision, conducted by the Central Bureau of Statistics, in the industrial production index figures. Apparently, the increase in manufacturing output, reflecting the supply side of the business sector, has been updated due to the moderating influence of the weakness in economic activity in Europe. Revenues in the commerce and services increased, reflecting a rise of domestic demand and particularly private consumption. The imports index, which consists mainly of imports of inputs for domestic production, but also consumer goods, shows a significant downward trend. The number of employee posts in the business sector continued to rise, the trend reflects the growth of the economy and the great demand for workers.

The May Index components include: a decrease of 4.1% in industrial production in April, after rising 2.6% in March; an increase of 0.5% Revenue in Commerce and Services in April after no change in March; a decrease of 2.4% in imports in May, after falling 3.3% in April, and an increase of 0.3% in the number of employee posts in the business sector in March, after falling 0.3% in February.

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