CBS: Industrial production grew by 7.8% in 2010

Port2port News Service
Feb 28, 2011

CBS noted that significant slowdown in industrial production's growth rate in last four months of 2010. Demand for workers drops accordingly

The Central Bureau of Statistics (CBS) reported last week that significant slowdown in industrial production's growth rate was noted in last four months of 2010; demand for workers drops accordingly.

According to the Central Bureau of Statistics the year 2010 was a good year for the Israeli industry. Industrial production grew by 7.8% compared to 2009, exports rose by 13.4% and the industry created about 6,000 new jobs.

The CBS noted however, that the last four months of the year saw a significant slowdown in the industrial production's growth rate. A 6% drop was recorded in the industrial production in Israel from October to December, alongside a 32.5% decrease in the production rate in the mixed-elite technology industries (chemistry, machines, electrical equipment and transportation tools).

The data point to a decline in Israeli factories' sales: The industry's early sales dropped by 1.9% in the last quarter of the year, while exports were down 6.2%.