CBS: the Israeli economy has entered a slowdown

Industrial output fell by an annualized 3.5% in August-October and industrial exports (excluding high tech) fell by an annualized 6.9%
 
Data released last week by the Central Bureau of Statistics (CBS) show that the Israeli economy has entered a sharp slowdown.
 
Trend data calculated by the CBS for August-October 2008 show an annualized drop of 4.2% in trade and services proceeds, after a 3.8% drop in the three months period May-July 2008.
 
Industrial output fell by an annualized 3.5% in August-October and industrial exports (excluding high tech) fell by an annualized 6.9%.
 
High tech output fell by an annualized 10.4% in August-October and low technology output fell by an annualized 13.4%.