Industrial output rose by 6.6% in 2004, and industrial exports rose by 19.1%, the Central Bureau of Statistics reported yesterday, providing two more positive macroeconomic figures.
Industrial output fell by a cumulative 7% in 2001-2003, during the intifada.
2004 was also a good year for high tech: output rose by 14.6%, exports 23%, and employment grew by 4.5%.
Industrial proceeds rose by 6.6% in fixed prices, employment rose by 1.2%, or 4,000 new employees, and work-hours per employee rose by 0.7%.
Trend figures nevertheless indicate that industrial output has been slowing. Growth in industrial output slowed from an annualized 9.5% in the first quarter of 2004, to 8% in the second, 6.2% in the third, and 3% in the fourth.
Job creation has also slowed. Employment in industry rose by an annualized 1.7% in the fourth quarter, after rising by 3.8% in the third. Work-hours per employee fell by an annualized 1.3% in the fourth quarter, after remaining unchanged in the third.
Published by Globes [online], Israel business news - www.globes.co.il - on February 21, 2005