Recession in Israeli economic production

The federation of industrialists in Israel announced a reduction at the industrial production level at a rate of 1.2% during the last three months in comparison with the first three months of the current year 2002.

The Israeli Hebrew Language radio said that this reduction resulted in sacking 2000 workers in the industrial sector.

The radio added that the discrepancy rate in the said sector increased at a rate of 8% in comparison with the same period of 2001.

The director general of the said federation Yuram Brunovesky expected another more dangerous reduction during the sixth coming months, noting the state of recession and unemployment in the Israeli economy because of the current situations in Israel and the region, in remarks to the continued Palestinian Intifada which inflicted heavy losses in the Israeli economy.