Fall in
industrial production reflects a recession in the manufacturing sector
For the time
being there is no evidence of harm of the knifings attacks on domestic demand
The Melnick State of the Economy did not change in November 2015. The
stability of the Index indicates stagnation in the business sector growth rate.
The industrial production index, which reflects the supply side of the business
sector, fell, following a decline the previous month. The low level of
industrial production reflects a recession in the manufacturing sector. The
difficulties in manufacturing echo the problems in 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 shekel. The revenue in
commerce and services, reflecting mainly domestic demand and private
consumption, rose, and is the only component that continues to support the
business sector. The figures for October demonstrate that for the time being, there
is no evidence of harm on domestic demand due to the wave of knifings/car
ramming attacks. The imports index, which consists mainly of imports of inputs for
domestic production but also consumer goods, dropped, after rising in the
previous month, and is characterized by strong volatility. The number of
employee posts in the business sector remains stable in recent months.
The November Index components include: a
decrease of 1.2% in the index of industrial production in October, after
falling 3.5% in September; an increase of 1.0% of revenue in commerce and services
in October, after falling 0.9% in September; a decline of 3.9% in the imports
Index in November, after rising 5.7% in October, and a decrease of 0.1% in the
number of employee posts in the business sector in September, after rising by 0.1%
in August.
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