The expansion of the business
sector continues at a moderate rate
Private consumption is once
again leading economic growth
The
Melnick State of the Israeli Economy Index increased by 0.1 percent
in September 2017. The business sector continues to expand at a moderate rate.
The rise in revenue of commerce and services, which reflects domestic demand
and mainly private consumption, indicates renewed growth. Private consumption
returns to lead economic growth, following a moderation in the first half of
the year. The industrial production index, which reflects the supply side of
the business sector, continues to decline despite the apparent improvement in
world markets; it appears that the strength of the shekel continues to have a
negative effect on its development through its effect on exports of the
industrial sector. The decline in industrial production constitutes a
constraint on the ability of the economy to exploit its growth potential. The
import index, which mainly includes imports of inputs for domestic production,
continues to expand at a rate that will enable accelerated growth at the end of
the year. The number of employee posts in the business sector increased at a
rate similar to the decline in the previous month, reflecting the strength of
the labor force.
The
September index components include a 0.4% drop in the industrial production
Index in August, following a 2.5% drop in July; an increase of 0.7% in commerce
services revenue in August, following an increase of 0.9% in July; an increase
of 0.5% in the imports index in September, following an increase of 0.4% in
August, and a 0.2% increase in the number of employee posts in the business
sector in July, following a decrease of 0.2% in June.
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