The
economy continues to grow at a moderate rate
There is
stability in revenue in commerce and services
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The
Melnick State of the Israeli Economy Index increased by 0.2 percent
in May 2017. The economy continues to grow at a moderate rate. In contrast to
the continuous growth trend of recent years, the revenue in commerce and
services, which reflects domestic demand and especially private consumption, shows
moderation. However, it is still too early to determine whether the growth
engine of the economy in recent years has changed direction. The index of
industrial production, which reflects the supply side of the business sector,
points to a positive trend, although the situation in world markets and the
relative strength of the shekel continues to have a negative impact on its
development. The import index, which mainly includes imports of inputs for
domestic production, but also consumption products, remains stable at a high
level. The number of employee posts in the business sector did not change from
the previous month, but its level still reflects strength in the labor market.
The May index components include: an increase
of 1.9% in the industrial production Index in April, following an increase of
4.0% in March; a decrease of 0.1% in the revenue of commerce and services in
April, following an increase of 2.0% in March; a decrease of 0.2% in the
imports index in May, following an increase of 5.5% in April; and no change in
the number of employee posts in the business sector in March, following a
decrease of 0.2% in February.
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