Economic growth continues at the beginning of the fourth quarter
of 2016
At this time, private consumption continues to be the engine
of economic growth
The
Melnick State of the Israeli Economy Index increased by 0.2 percent in October 2016. Growth in
the business sector, at the beginning of the fourth quarter of 2016, continues
after its improvement in the third quarter. The revenue in commerce and services,
reflecting mainly domestic demand and private consumption, continues to rise.
Despite the decline in private consumption growth it continues to be a major
factor in the growth of the economy. Industrial production, which reflects the
supply side of the business sector does not rises likely due to the global
economic situation, which is a limitation to the development of exports. The
imports index, which consists mainly of imports of inputs for domestic
production but also consumer goods, continues to oscillate around a given
level, with no clear upward or downward trend. The high level of employee posts
in the business sector is consistent with the improvement in the economy.
The October
Index components include: a decrease of 1.2% in the index of industrial
production in September, after rising 3.3% in August; a decline of 0.8% in revenue
in commerce and services in September, after rising 0.2% in August; a decrease
of 0.8% in the Imports Index in October, after rising 1.6% in September, and a
0.1% decrease in the number of employee posts in the business sector in August,
after rising 0.5% in July.
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