Business sector growth is
improving
The private consumption is
leading the growth of the economy
The
Melnick State of the Israeli Economy Index rose by 0.4 percent in
November 2019. Business sector growth is improving. The revenue in trade and
services, reflecting domestic demand and especially private consumption,
continues to rise in line with the trend that has characterized it over the
past year. The increase reflects the continued contribution of private
consumption to the growth of the economy. The industrial production index,
which reflects the supply side of the business sector, returned to rise; however, it is still unclear that the difficulties associated with
industrial exports, given the slowdown in activity in Europe and the
strengthening of the shekel, have weakened. The import index, which reflects mainly
imports of inputs for domestic production, has moderated, but its level is high and does not limit the potential expansion of
the business sector. The number of employee posts in the business sector
increased and continues to reflect strength in the labor market.
The November
Melnick Index components index include: a 2.6% rise in the industrial production
Index in October, after a 0.8% rise in September; an increase of 0.7% in
revenue in trade and services in October, after rising by 3.1% in September; a 3.0%
decline in the import index in November, following a 5.3% rise in October; and
a 2.0% increase in the number of employee posts in the business sector in
September, after a 0.7% decline in August.
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