High-tech exports rose by 8%.
Exports (excluding diamonds, ships and planes) rose by an annualized 6.7% in December 2006-February 2007, the Central Bureau of Statistics reports. Manufactured exports rose by an annualized 5% and high-tech exports rose by 8%. Imports of investment goods rose by an annualized 38%.
The data indicate that the economy is still growing faster than expected, including fairly rapid increase in private consumption. However, there are signs that industrial output is slowing, which rose by an annualized 1% in November-January (the latest known figures), after rising by 5% in August-September. It is net yet clear if the slowdown is temporary or the start of a new trend. High-tech output continued to expand fairly rapidly, growing by an annualized 6.5%.
Trade and services proceeds rose by an annualized 9% in December-January, and credit card purchases rose by over 11%. Retail sales rose by 9%, including a 5% increase in food sales at supermarkets. Departures overseas rose 23% in December-February, while hotel overnights by Israelis rose by 1.5%.
Published by Globes [online], Israel business news - www.globes.co.il - on March 28, 2007
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