The business sector is growing at a moderate rate.
The import index indicates pessimism for continuing economic activity.
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The Melnick State of the Israeli Economy Index rose by 0.2 percent in October 2022. The business sector continues to grow at a moderate rate: the revenue in commerce and services, which reflects domestic demand and especially private consumption, maintains a high level, but is not increasing, which indicates weakness of private consumption. The industrial production index, which reflects the supply side of the business sector, indicates the continued growth of the industrial sector. The import index, which consists mainly of inputs for domestic production, rose moderately after a three-month period of consecutive decrease – the level of the import index indicates pessimism regarding the continuation of economic activity. The number of employee posts in the business sector continues to rise and reflects the strength of the labor market.
The components of the October index include: a 0.7% increase in the industrial production index in September, after a 4.1% increase in August; a 1.4% increase in revenue in commerce and services in September after a 1.0% decrease in August; a 0.3% increase in the import index in October, after a 1.4% decrease in September and a 0.1% increase in the number of employee posts the business sector in August, after a 0.2% increase in July.
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