The Melnick State of the Economy Index increased by 0.1 Percent in May

Business sector growth continues

Some signs of improvement in manufacturing industries

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The Melnick State of the Israeli Economy Index increased by 0.1 percent in May 2018. The growth of the business sector continues. The revenue in commerce and services sectors, which reflects domestic demand and especially private consumption, continues to indicate strength that indicates growth in private consumption and its contribution to economic growth despite its decline in the last month. The industrial production index, which reflects the supply side of the business sector, continued to improve, but it cannot be determined yet that it has overcome the difficulties facing the industry. The index of imports, which mainly reflects imports of domestic production inputs, rose after a number of unusual fluctuations. The number of employee posts in the business sector continued to rise, reflecting the strength in the labor market.

The May Melnick Index components include: an increase of 2.2% in the industrial production Index in April, following an increase of 0.5% in March; a decrease of 3.2% in the revenue of commerce and services in April, following an increase of 2.0% in March; the import index rose by 1.5% in May, following an increase of 0.5% in April, and an increase of 0.8% in the number of employee posts in the business sector in March, following a decrease of 0.2% in February.

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