Business sector growth shows
an improvement at the beginning of 2018
Sharp fluctuations in imports
of domestic production inputs continue
The Melnick State of the Economy Index
increased by 0.3 percent in February 2018. The growth in the business sector
showed an improvement at the beginning of 2018. The revenue in commerce and
services, which reflects domestic demand and especially private consumption,
continues to point to a rise in private consumption and its contribution to the
growth of the economy. The index of industrial production, which reflects the
supply side of the business sector, has risen considerably in recent months,
but we cannot say that the difficulties faced by the industrial have been eased.
The index of imports rose sharply in February and more than compensated for the
decline in January. At this stage, the sharp fluctuations appear to be due to
measurement problems. The number of employee posts in the business sector
continues to reflect strength in the labor market.
The February index components include: an
increase of 3.9% in the index of industrial production in January, following a
decrease of 0.2% in December; a decrease of 0.5% in the revenue of commerce and
services in January, following an increase of 0.3% in December; an increase of
17.7% in the Imports Index in February, following a decrease of 8.7% in
January, and a 0.2% decrease in the number of employee posts in the business
sector in December, following an increase of 0.3% in November.
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