The expansion of the business sector continues
In 2021 the Index grew by 4.8 percent
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The Melnick State of the Israeli Economy Index rose by 0.2 percent in December 2021. The expansion of the business sector continues. The Melnick Index grew, in 2021, at an annual rate of 4.8 percent, reflecting two processes: the rapid recovery of the economy after the initial hit of the corona and the reorganization of the business sector into the new reality that has been created and still continues to affect economic activity. Revenue in commerce and services, which reflects domestic demand, and especially private consumption, continues to be the main factor marking the expansion of business sector activity. The industrial production Index. which reflects the supply side of the business sector, continues to be backward updated monthly by the CBS, making it difficult to identify a trend in the industrial sector. The import index, which consists mainly of inputs to domestic production, fell in December; the level of input imports is still high and allows the economy to continue growing. The number of employee posts in the business sector rose again, strengthening the assessment of improvement in the labor market and the declining unemployment rate.
The components of the December index include: a decrease of 3.5% in the industrial production index in November, after an increase of 0.7% in October; a 0.3% increase in revenue from commerce and services in November after a 0.8% increase in October; a decline of 2.3% in the imports index in December, after a rise of 2.1% in November and a 2.3% rise in the number of employee posts in the business sector in October, after a decline of 0.6% in September.
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