5.3% growth for Israel's economy in 2007

The growth rate in Israel is double the OECD average.

Israel's economic growth reached 5.3% in 2007, the Central Bureau of Statistics reports. 2007 rounds off five consecutive years of rapid growth, the growth rate in four of which exceeded 5%.

The growth rate in Israel is double that of OECD countries and almost three times that of the US. Per capita growth reached 3.5%, the highest of all Western countries. Business product grew by 6.3%, while unemployment stood at a monthly average of 7.4%.

The standard of living (private consumption per capita) in Israel grew by 5.3%, while total private consumption rose by 7%. 2007 could be best described as the year of the consumption and growth boom; this year's economic performance will be difficult to repeat in 2008.

Published by Globes [online], Israel business news - www.globes.co.il - on December 31, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Slowdown will worsen

The vested interests that continue to claim that the economy is improving are deceiving the public, says Eyal Horowitz.

Can the US maintain growth after QE3?

Leading economists will discuss "The US: catch 22 the zero interest rate" at the "Globes" 2013 Israel Business Conference.

Twitter Facebook Linkedin RSS Newsletters