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.
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
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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