Q2 growth beats expectations
The Israeli economy grew by an annualized 3.2% in the second quarter of 2012, faster than in the first quarter.
Most surprising was an annualized 10.3% increase in exports of goods and services, and annualized 5.4% growth in private consumption. Public consumption rose by an annualized 1.8%, but investment in fixed assets fell by 1.1%.
It should be remembered that the Central Bureau of Statistics' preliminary estimate of exports of goods and services for the first quarter was 14%, but revised the figure down to 2% two months later. The revision shaved the GDP growth estimate by 0.3 percentage points to an annualized 2.7%.
Today, the Central Bureau of Statistics again revised the first quarter GDP growth figure to an annualized 2.8%.
GDP growth was an annualized 3% in the first half of 2012, down from 3.3% in the second half of 2011 and 5.1% in the first half.
Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
- Tel Aviv market report
- Tel Aviv Stock Exchange
- Israeli stocks in NY
- Arbitrage gaps for dual-listed stocks
- Israeli stocks in Europe
- Israeli stocks on other markets
- Tel Aviv 25 options
- Mutual funds
- Current representative shekel rates
- Historical representative shekel rates
- Bank shekel rates
- Shekel/dollar options