An improvement was evident in
the growth of the business sector
Imports of inputs for
domestic production continued
The
Melnick State of the Israeli Economy Index increased by 0.3 percent
in December 2017. The growth rate of the business sector, which is leading the
economy's growth, improved during the last months of 2017. The commerce and
services revenue, which reflects domestic demand and especially private
consumption, continues to expand, pointing to an increase in private
consumption and its contribution to economic growth. Despite the rise in the
index of industrial production, which reflects the supply side of the business
sector, its level continues to reflect the difficulties facing industry. The
strengthening of the shekel makes it difficult for industrial exports on the
one hand, and increases import competition on the other hand. The imports index
continues to expand at a rapid rate, reflecting mainly the increase in imports
of inputs for domestic production, signaling optimism for continued economic
growth. The number of employee posts in the business sector continues to
reflect its strength in the labor market.
The
December Index components include: an increase of 1.8% in the index of industrial
production in November, following a decrease of 1.0% in October; an increase of
1.3% in revenue in commerce and services in November, following an increase of
1.9% in October; the imports index rose by 1.6% in December, following an
increase of 3.9% in November; a decrease of 0.4% in the number of employee
posts in the business sector in October, following an increase of 0.7% in
September.
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