Israeli economy records consecutive quarter of growth

Israel is continuing with its strong emergence from the recession.

For the second quarter running, GDP grew (2.2% annualised). Private consumption – often a euphemism for the standard of living – shot up by nearly 7%.

Encouragingly, the key components driving the improvement are exports (5%) and investments in fixed assets. If much has been written about Israel and its propensity to innovation, here is further proof of that concept.

I still offer words of caution. Unemployment has yet to see a serious change, keeping back many sectors of society. And the Bank of Israel continues to face a difficult juggling act between inflation, exchange rates and the rate of interest.

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One Comment on “Israeli economy records consecutive quarter of growth”

  1. Michael Horesh Says:

    (My thanks to Miriam Schwab for the link)
    For an excellent sumamry of Israel’s innovation, see http://ow.ly/CKHY

    The book itself was reviewed on CNBC and I commented on it last week.


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