Moderate
growth in the business sector
Domestic demand
supports business sector activity
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The Melnick State of the Economy did not
change in September 2015. The development of the Index reflects modest growth
in business sector activity. The industrial production index, which reflects
the supply side of the business sector, rose and corrected some of the decline
of the previous month. This level does not exceed that of February 2015,
reflecting the difficulty of industrial exports which continues to be affected
by the weakness of economic activity in Europe, the decline in growth in China,
and probably the strength of the NIS. The revenue in commerce and services,
reflecting domestic demand and mainly private consumption, increased and
continues to support the business sector. The figure still does not reflect the
latest terrorist attacks. The imports index, which consists mainly of imports
of inputs for domestic production, but also consumer goods, declined and
suggests the possibility of a decline in activity in the months ahead. The number of employee posts in the business
sector declined and perhaps that is a sign of a possible weakness in the labor
market.
The September index components include: an
increase of 2.8% in the index of industrial production in August, after falling
3.4% in July; an increase of 1.0% Revenue in commerce and services in August,
after falling 0.5% in July; a decrease of 6.6% in the Imports Index in
September, after rising 3.0% in August, and a decrease of 0.9% in the number of
employee posts in the business sector in July, after falling 0.1% in June.
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