Business sector growth
continues
The growth rate in the first
half of 2019 is relatively high
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The
Melnick State of the Israeli Economy Index increased by 0.3 percent
in June 2019. The business sector growth continues. The revenue in commerce and
services, which reflects domestic demand and especially private consumption,
reflects an improvement in domestic demand despite its moderate decline in the
last month. The index of industrial production, which reflects the supply side
of the business sector, appears to reveal a recovery of the industry, although
this may still reflect an update by the Central Bureau of Statistics. The
import index, which mainly reflects imports of domestic production inputs, indicates
the possibility of continued growth in the business sector. The number of
employee posts in the business sector returned to reflect strength in the labor
market.
The May
Melnick index components include: a 0.3% drop in the industrial production index
in May, following an increase of 2.3% in April; a decrease of 0.1% in revenue
of commerce and services in May, following an increase of 0.7% in April; an
increase of 3.6% in the imports index in June following a decrease of 6.4% in
May; and an increase of 0.7% in the number of employee posts in the business
sector in April, following a decrease of 0.6% in March.
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