Industrial output drops a record 13%

Industrial output in December was 13% lower than a year earlier, the biggest drop since records began, the national statistics office CBS said on Friday.

The decrease between November and December 2008 was also unprecedented at 7%.
All branches saw a fall in production although some industries were harder hit than others. Output in the natural oil, chemical and rubber industry was down 22%, while the food sector saw a downturn of just 1%.
The sharp decrease in production is coupled with a significantly lower use of available manufacturing capacity, the CBS said.

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