Israel's GDP rose by an annualized 2.8% in the first quarter of 2013, up from 2.6% in the preceding quarter.
Israel's GDP rose by an annualized 2.8% in the first quarter of 2013, up from 2.6% in the preceding quarter, the Central Bureau of Statistics reported today, dispelling concern that the country is heading for a slowdown.
In addition, private consumption rose by an annualized 5.6% in the first quarter, after falling by 0.5% in the preceding quarter. Private consumption per capita rose by 4% in the first quarter. Expenditure on durable goods per capita rose by an annualized 14% in the first quarter, including a 64% jump in expenditure on cars, after falling by 4% in the preceding quarter.
However, business product growth slowed to an annualized 2% in the first quarter from 3.4% in the preceding quarter and 2.9% in the third quarter of 2012. The decline in investment in fixed assets worsened to an annualized 14.7% in the first quarter from 11% in the preceding quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2013
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