We recognize some acceleration in economic growth
Relatively high levels in industrial production and revenue
in commerce and services remain
The
Melnick State of the Israeli Economy Index increased by 0.3 percent
in January 2017. At the end of 2016 and the beginning of 2017 we identify some acceleration
in the growth rate of the business sector. The revenue in commerce and services,
reflecting domestic demand and mainly private consumption fell slightly,
however, remained high after his sharp rise in the previous month. Domestic
demand, especially private consumption, still continues to be the main factor of
growth of the economy. Industrial production, that reflects the supply side of
the business sector, fell slightly but also kept the relatively high level,
after the steep increases in the previous month. The decline in the imports
index, which consists mainly of imports of inputs for domestic production but
also consumer goods, was roughly similar to the rise in the previous month. The
number of employee posts in the business sector reflects the strength in the
labor market.
The January
Index components include: a decrease of 0.5% in the index of industrial
production in December, after rising 4.5% in November; a decrease of 0.8% in revenue
in commerce and services in December, after rising 3.2% in November; a decrease
of 8.4% in the Imports Index in January, after rising 6.8% in December, and an
increase of 1.8% in the number of employee posts in the business sector in
November, after falling 3.0% in October.
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