Business sector growth
continues
A recovery is evident in the
industrial sector
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The Melnick State of the Israeli Economy Index increased by 0.3 percent in May 2019. The business sector growth continues. The revenue in commerce and services sectors, which reflects domestic demand and mainly private consumption, returned to increasing, reflecting an improvement in domestic demand. The index of industrial production, which reflects the supply side of the business sector, continues to rise following the updating of historical data conducted by the Central Bureau of Statistics. This new trend may reflect a recovery of the industry. The import index, which mainly reflects imports of domestic production inputs, fell sharply, but its level is still high, indicating the possibility of continued growth in the business sector. The number of employee posts in the business sector fell again this month, a weakness in the labor market may be developing.
The May Melnick index components include: an increase of 2.9% in the industrial production Index in April, following an increase of 1.0% in March; a decline of 0.7% in revenue of commerce and services in April, after no change in March; a decrease of 6.5% in the Imports Index in May, following an increase of 0.8% in April; and a decrease of 0.6% in the number of employee posts in the business sector in March, following a decrease of 0.2% in February.
The May Melnick index components include: an increase of 2.9% in the industrial production Index in April, following an increase of 1.0% in March; a decline of 0.7% in revenue of commerce and services in April, after no change in March; a decrease of 6.5% in the Imports Index in May, following an increase of 0.8% in April; and a decrease of 0.6% in the number of employee posts in the business sector in March, following a decrease of 0.2% in February.
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