Manufacturers Association president Shraga Brosh said last week in a press release that following a Manufacturer’s Association survey held at the end of the first quarter it became evident that the rate of industrial growth during the first quarter of 2006, was the highest rate registered in the last five and a half years.
According to Brosh 55% of local manufacturers increased their output while only 20% reduced it.
The expectations for industrial growth in the second quarter of 2006 are, according to Brosh, the best in six years. 59% of factories expect output to increase while only 15% expect it to be reduced.
A substantial increase was also reported in exports after moderate rises over the last three quarters. 53% of exporters reported an increase in exports (of which 14% said the increase was substantial) while 25% recorded lower exports (compared with the previous survey in which 41% reported higher exports and 27% reported lower exports).
Exports, according to the survey, are also expected to increase substantially in the second quarter. 57% of manufacturers expect exports to increase while 10% expect them to decrease.
Domestic sales of industrial goods in early 2006 were higher than expected. 46% of manufacturers reported an increase in sales while 21% said sales were lower (compared with the previous survey, in which 35% reported an increase and 31% reported a decrease).
