The Melnick State of the Economy Index Rose 0.3 percent in February

The first partial economic effects of the situation will be reflected in the March index

In the April index, we will get a fuller picture of the depth of the virus's economic damage

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The Melnick State of the Israeli Economy Index rose 0.3 percent in February 2020. The business sector continued to expand in February, however, this month's index does not reflect the economic effects of the Corona virus. The first partial economic effects of the situation will be reflected in the next month's index, the March index. In the April index, we will get a fuller picture of the depth of the virus's economic impact. Unfortunately, if I am allowed on a personal note, there is no doubt that the growth cycle that characterized the economy since the exit of the 2008/2009 downturn came to an end. The index of the following months will follow the slowdown/recession that will characterize the new cycle.

The February Melnick Index components include: a 2.6% rise in the industrial production Index in January, after a 0.1% decline in December; a decrease of 0.8% in the revenue of commerce and services January, after rising by 3.3% in December; a drop of 4.4% in the import index in February, after a decline of 1.0% in January; and an increase of 0.4% in the number of employee posts in the business sector in December, after a 0.9% increase in November.

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