The import of inputs for
domestic production illustrates the potential for continuous growth
Strong fluctuations in
employee posts in light of the strong labor market
The Melnick State of the Israeli Economy
Index rose 0.3 percent in December
2019. Business sector growth continues. The revenue from commerce and services,
reflecting domestic demand and especially private consumption, remains high
despite its decline in the last month. The industrial production index, which
reflects the supply side of the business sector, fell over the past month - but
its high level is maintained despite slowing activity in Europe and the
strengthening of the shekel. The import index, which mainly reflects imports of
inputs for domestic production, returned to a positive trend, and signifies the
potential for expansion of the business sector. The number of employee posts in
the business sector dropped sharply, but at this stage it cannot be determined that
there is a weakness in the labor market.
The
December Melnick Index components index include:
a 0.8% decline in the industrial production index in November, following a 2.5%
rise in October; a decrease of 0.8% in revenue of commerce and services in
November, following an increase of 0.5% in October; a 1.9% increase in the import
index in December, following a 3.3% decline in November; and a 2.2% decline in
the number of employee posts in the business sector in October, following a
1.9% rise in September.
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