Succot spending to spike 8%

By RYAN NADEL
October 4, 2006 07:53

As succot sprout up across the country, consumer spending also grows with a report from the Federation of Israeli Chambers of Commerce indicating that consumers will spend NIS 3.7 billion on household items during the Succot holiday.

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As succot sprout up across the country, consumer spending also grows with a report from the Federation of Israeli Chambers of Commerce indicating that consumers will spend NIS 3.7 billion on household items during the Succot holiday. This represents a 20 percent increase in spending from the same non-holiday period last year, and an 8% increase from last year's holiday season. |"Strength in consumer spending is one of the engines of economic growth," explained Uriel Lynn, President of the Federation. Of the NIS 3.7b., more than half, or NIS 1.7B, will be spent on food, while the rest will be spent on things such as transportation (including fuel), entertainment, eating out, and international travel. Average spending per household will range from NIS 1,500 to NIS 2,000, according to the report. One item to garner the focus of Succot shoppers will be palm fronds, one of the four species of fruit used in holiday rituals. Palm fronds are usually imported from Jordan, Gaza , Jericho and El Arish in Egypt . This year, 200,000 palm fronds are to be imported from Egypt. They arrived in the country on Tuesday. Local agriculture officials have taken special measures to ensure the health of the imported items as a disease which ravished palm crops in Morocco could infect Israeli crops if it finds its way to Israel in the imports. The disease would pose a dire threat to the Israeli crop, valued at NIS 320 million, consisting of 370,000 palm trees.


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