The Melnick State of the Economy Index Unchanged in October

 

The economic recovery ceased due to the imposition of the second lockdown

The economic impact of the second lockdown will be reflected in the indices of November and December

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 The Melnick State of the Israeli Economy Index did not change in October 2020. The freeze in the Index reflects only partially the halt in economic activity due to the second lockdown, announced at the end of September, following the recovery of activity that took place during the summer months. A more complete picture of the lockdown effect on economic activity will be obtained in the indices of November and December.

An update of the components of the Index gives a better picture of the economic activity recovery, which occurred in the business sector, after the easing of the first lockdown. As stated, the recovery was halted due to the imposition of the second lockdown.

 The components of the October Index include: a 4.0% increase in the industrial production index in September, after a 2.0% increase in August; a 0.7% decrease in revenue from commerce and services in September after a 1.1% increase in August; a 1.2% drop in the import index in October, after a 5.4% increase in September and a 0.4% increase in the number of employee posts in the business sector in August, following no change in July.

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