Israeli Companies Are Cutting Costs To Deal With A Possible Recession.
Recently, a survey by the Israeli Manufacturers Association showed that industrial enterprises have begun to cut costs and improve efficiency, so as to prepare for possible economic recession.
The survey showed that 60% of the enterprises began to take measures to improve operational efficiency, 44% of the enterprises were starting to cut management costs and general expenditure, 36% of the enterprises planned to lay off staff, 36% of the enterprises were reducing inventory, and 30% of the enterprises decided to cancel or postpone investment projects.
According to the latest data from the central bank, the industrial output value increased by only 6.8% from 3 to May this year, a decrease of 5.1 percentage points. In addition, by the decline in industrial output and export, the leading economic index also dropped by 0.3% in June.
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