Industrial Purchase Index Falls Again in September

For the third month in a row, the Bank Hapoalim index of industrial purchases in the economy fell. The index was down 4.1% in September, indicating a slowdown in industrial activity in the Israeli economy. The index stood at 44.3 in September, with economists stating that any number under 50 indicates a contraction of the economy.

Employment statistics are still positive, however; unemployment in Israel stands at 5.4%. Lower industrial production will not necessarily impact the unemployment rate too badly, experts said, since manufacturing accounts for only 14% of employment in Israel, with the rest accounted for by services and government activity.