Growth seen falling to 3.5% in 2012

Central Bureau of Statistics: Israel's economy will grow by 3.5% in 2012, after 4.6% growth in 2011 and 5% growth in 2010.

16 October 12 13:41, Adrian Filut and Globes' correspondent

Israel's economy will grow by 3.5% in 2012, after 4.6% growth in 2011 and 5% growth in 2010, states the Central Bureau of Statistics today in its First Annual Flash Estimates of the National Accounts for 2012. It adds that GDP per capital is NIS 117,600 in 2012, 1.7% more than in 2011, in constant prices.

Private consumption growth will slow to 2.8% in 2012 from 3.8% in 2011 and 5.3% in 2010. However, the growth in public consumption will rise 3.8% in 2012 from 2.9% each in 2011 and 2010.

The Central Bureau of Statistics estimates that exports of goods and services, excluding diamonds, will grow by 5.6% in 2012, up from 4.1% in 2011, but only half the 10.8% growth in 2010. Imports of goods and services will grow by 3% this year, and the growth in resources available to the economy (GDP plus imports) will slow to 3.4% in 2012 from 6.3% in 2011 and 6.8% in 2010.

Investment in fixed assets will grow by just 2.6% in 2012, compared with 16% growth in 2011 and 12.2% growth in 2010.

Published by Globes [online], Israel business news - www.globes-online.com - on October 16, 2012

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