GDP growth revised downward

Second quarter growth was still higher than in the previous three quarters.

Israel's GDP grew at a 4.6% annualized rate in the second quarter of 2010, according to a second estimate by the Central Bureau of Statistics.

The figure is slightly lower than the 4.7% reported in the CBS's first estimate.

According to the revised estimates, GDP grew 3.8% in the first quarter, 4.4% in the fourth quarter of 2009, and 4% in the third quarter of 2009.

Exports of goods and services rose 19.9% in the second quarter, up from a 6.4% rise in the first quarter, and private consumption expenditure rose 9%, up from 0.7% in the first quarter.

GDP rose at a 4.1% pace in the first half of 2010, compared with the previous six months.

The data is seasonally adjusted, and is compared with the previous period.

Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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