Business sector growth
continues at a moderate rate
Private consumption is the
main contributor to the continued growth of the business sector
The
Melnick State of the Israeli Economy Index rose by 0.1 percent in
July 2019. The business sector growth continues at a moderate rate. The revenue
in commerce and services, which reflects domestic demand and especially private
consumption, reveals improvement, and private consumption appears to be the
main contributor to the continued growth of the business sector. The industrial
production index, which reflects the supply side of the business sector,
returned to manifest difficulties. It may be affected by the slowdown in Europe
and the decline in world trade. The import index, which reflects mainly imports
of inputs for domestic production, displays volatility that probably reflects
uncertainty in the markets. The number of employee posts in the business sector
reflects ongoing strength in the labor market.
The
July Melnick Index components include: a 0.7% decline in the industrial production
index in June, after a 1.0% decline in May; an increase of 0.8% in revenue of commerce
and services in June, after a 0.1% increase in May; a decrease of 3.5% the
imports index in July, following an increase of 3.3% in June; and a 0.5%
decline in the number of employee posts in the business sector in May,
following a 0.8% rise in April.
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