Israel's GDP grew by an annualized 3% in the third quarter of 2009, according to the Central Bureau of Statistics' third and final estimate for the quarter. GDP rose by an annualized 1.2% in the second quarter and fell by 3.2% in the first quarter.
GDP growth in the third quarter was driven by an annualized 7.2% growth in the export of goods and services and an annualized 8.2% growth in investment in fixed assets. Private consumption rose by an annualized 5.6%, amounting to an annualized increase of 3.6% in private consumption per capita. Private consumption rose by an annualized 8.4% in the second quarter, but fell by an annualized 5.2% in the first quarter.
Business product rose by an annualized 2.4% in the third quarter, after rising by an annualized 1.1% in the second quarter and falling by an annualized 5.2% in the first quarter.
Import of goods and services rose by an annualized 6.4% in the third quarter, after rising by an annualized 6.2% in the preceding quarter.
The Central Bureau of Statistics said, "These findings should be treated with caution, because, as is known, there is relatively high irregularity in Israeli economic statistics, resulting in volatility in quarterly data."
Published by Globes [online], Israel business news - www.globes-online.com - on January 17, 2010
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