Israel's construction industries see 55-pct drop in activity: report-Xinhua


Israel's construction industries see 55-pct drop in activity: report

Source: Xinhua

Editor: huaxia

2024-02-21 03:11:15

JERUSALEM, Feb. 20 (Xinhua) -- A new report found that the activity of the construction industries in Israel dropped by an average of 55 percent year-on-year in January, the Manufacturers Association of Israel (MAI) said in a statement on Tuesday.

It also found that eight percent of the construction industry companies that manufacture construction-related products and participate in an MAI survey saw a sales drop of more than 75 percent year-on-year in January.

In addition, about 70 percent of the companies surveyed reported a drop of up to 50 percent in sales, while about 15 percent of companies reported a drop of up to 75 percent in sales.

MAI President Ron Tomer said in the statement that the dramatic drop in sales means a cut and even full closure of production lines of essential raw materials and layoffs in construction factories.

He explained that the Israeli construction industries have been in a very difficult situation since the beginning of the conflict with Hamas due to construction stoppages, the stagnation in the real estate sector, and the severe lack of workers.

"The result is a real crisis, Israel may be left after the conflict without an independent construction industry," he warned.

Tomer called on the government to immediately add foreign and Palestinian construction workers and create a dedicated compensation track for the industry.

The survey was conducted among about 200 Israeli companies that manufacture products related to construction, such as cement, adhesives, and concrete.