The growth in the business
sector continues
The rise in imports of inputs
reflects the possibility of continued growth in the business sector
The Melnick State of the Israeli Economy Index increased by 0.2 percent in November 2018. Business sector growth continues. The volatility of revenue in the commerce and service industries continues. The volatility in this revenue, which reflects domestic demand and mainly private consumption, reflects stability of domestic demand. The index of industrial production, which reflects the supply side of the business sector, rose slightly in the last month after a strong decline recorded in prior month. Overall, the level of industrial production is similar to last year's level, meaning that there was no growth at all; this development indicates that manufacturing has not overcome the difficulties facing the industry. The import index, which mainly reflects imports of inputs for domestic production, rose sharply and apparently reflects the possibility of continued growth in the business sector. The number of employee posts in the business sector reflects resilience in the labor market.
The November Melnick Index components include: an increase of 0.4% in the industrial production index in October, following a decrease of 3.5% in September; an increase of 2.3% in the revenue in commerce and services in October, following a decrease of 1.8% in September; an increase of 4.4% in the import index in November, after no change in October, and a decrease of 0.6% in the number of employee posts in the business sector in September, following a decrease of 0.1% in August.
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