(photo credit: Courtesy of BIU)
Industrial output in July and August declined 1 percent in real terms, led by a renewed fall of 4.2% in hitech, the Israel Manufacturers Association reported Monday.
“The contraction in the growth of industrial output was triggered by a renewed drop of production in the hitech sectors, while output growth across all other sectors in the industry increased moderately,” said Ruby Ginel, deputy head of the association’s economics division. “Not including the hitech sectors, output in all sectors rose by a moderate 1.5%.”
Industrial output dropped 1% in July-August, after growing 6% in the second quarter. Output in the hi-tech sectors – including transport, electronic components equipment, medical devices and communications equipment – fell 4.2% in July- August, after growing 11.9% in the second quarter.
The renewed drop in hitech output growth was mainly led by declines in pharmaceuticals, communications and electronic equipment, which was offset by moderate growth in the electronic- component and medical- devices sectors.
Output in the mixed hitech sector – including chemicals, oil, machinery and engines – grew 0.7% in July- August, after growing 3.1% in the second quarter.
Output in the mixed-traditional technology sector – including rubber, plastics, metals and jewelry – grew 1.8% in July-August, after growing 2% in the second quarter.
The traditional technology sector – including food, textiles, furniture and paper – grew 2% in July-August.
According to the most recent figures published by the Central Bureau of
Statistics on Sunday, exports of goods, not including diamonds, dropped
9.4% in annual terms in the third quarter, after declining 1.9% in the
second quarter. Industrial exports fell 8.5% in annual terms in the
Hi-tech exports dropped 2.8% in annual terms in the third quarter, after
growing 25.6% in the second quarter. Exports of goods in the
mixed-traditional sector fell 13.5% in the third quarter, after
declining 20% in the second quarter.
Exports of goods in the traditional technology sector contracted 10.7%
in the third quarter, after increasing 3.4% in the second quarter.