Local biz's sales rise 70% in '06

The Federation of Israeli Chambers of Commerce said Tuesday local companies experienced a 70 percent increase in sales during 2006, adding that 60% of those companies expect their sales to keep rising into next year.

The Federation of Israeli Chambers of Commerce said Tuesday local companies experienced a 70 percent increase in sales during 2006, adding that 60% of those companies expect their sales to keep rising into next year. The Federation surveyed 130 companies across the board including those operating in the fields of communications, electronics, business services, chemical, technological and medical equipment. Fifty-five percent of the companies reported an increase in earnings compared to 23%, which registered losses. The news was in line with positive national employment figures, with 23% of companies reporting an increase in their hiring and only 11% reporting layoffs during the year.