The Ministry of Finance's monthly economic survey indicates that the economic recovery continued in November. Most economic indicators improved during the month, tax revenues rose, and the public's mood was more upbeat.
Ministry of Finance figures show a 16% increase in home purchases in November, after a 30% drop in September-October. The figures also show a 6.1% drop in the average home price in November, compared with October. Home prices were unchanged in October and rose by 4.3% in September.
The Ministry of Finance stated, "The proportion of apartments bought as investments fell again, and home sales by investors picked up. Together with that, the supply of rental apartments continued to increase."
Retail chain sales rose by 2.2% in November, new claims for unemployment benefits fell by 3.2%, direct tax receipts rose by 2.5%, and indirect tax receipts rose by 20.6%. Exports, however, fell by 6.2%.
Published by Globes [online], Israel business news - www.globes-online.com - on December 22, 2009
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