Country Report Israel March 2011

Economic performance: Industrial production weakens in final quarter

A different picture, at least of the industrial sector of the economy, emerged from the latest CBS data on manufacturing production, published on February 20th. For 2010 as a whole, the industrial production index rose by 7.8%. Industrial exports posted a 13.4% rise over 2009 and domestic sales climbed by 3% (both in fixed-price terms). Employment increased by 1.9%. But these trends reversed in the final quarter, with annualised trend data for industrial production declining by 6% during October-December. Sales, both to foreign and home markets also fell, by an annualised 6.2% and 1.9% respectively.

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