• • • • • • • • • • • •
•

•

based supplier of brake compo-
nents and systems, is one of Mr.
Petrucci's principal clients. For
more information on the lun-
cheon, call chapter program
chairman Milton Shapiro at
682-7124.

JUDGE ROBERT BORK,
a former United States
Supreme Court nominee, will
be the keynote speaker at the
April 23 Detroit College of Law
(DCL) homecoming dinner-
dance at the Dearborn Inn.
Mr. Bork's appearance head-
lines the festivities planned for
the college's first alumni home-
coming weekend, which begins
with a cocktail party April 22 at
the school. For further infor-
mation, alumni should call the
college at 226-0130.

❑

Israeli Economy
Still Expanding

The Israel economy expanded
in the fourth quarter of 1993
and the first two months of
1994, continuing the marked
growth of the third quarter last
year, according to a study con-
ducted by the Bank of Israel's
research division.
The effects of the closure of
the territories following the He-
bron massacre, however, are not
reflected in the data.
The expansion is clearly re-
flected by growth in the import
of manufacturing inputs; in the
expansion of labor input in the
business sector, especially in the
sharp transition to full-time jobs;
in the large demand for con-
struction, especially in private
residential construction; and in
the growing need for concrete.
There were, however, sever-
al indicators of a change in the
nature of demand during the
period in question — October
1993 through February 1994 —
most significantly a decline in
all industrial exports since De-
cember.
The signs of marked eco-
nomic growth included an
11 percent increase in the
industrial production index in
annual terms, including a
marked growth in labor pro-
ductivity; a large growth in pri-
vate building starts; and a
relatively rapid growth in the
retail price index since the be-
ginning of the year. Tourism, as
measured by hotel occupancy,
remained steady at the high
level reached in the third quar-
ter of 1993.
The consumer price index
rose by 10.5 percent in yearly
terms in the period covered.
Half of this rise was attribut-
able to housing prices, which
rose by 25 percent in yearly
terms.

ECONOMY page 56

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DEDICATED TO
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55