GDP growth revised upward
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11.03.10, 12:24
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Financial News
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Israel's Gross Domestic Product (GDP) rose by 0.7% in 2009, after rising 4% in 2008 and 5.2% in 2007, Globes quoted a Central Bureau of Statistics report.
The numbers, added the report, are unexpectedly high and are exceeding of the 0.5% growth estimated in January.
The differences were attributed to the annualized 4.9% GDP growth achieved in the fourth quarter, which was higher than an earlier Central Bureau of Statistics estimate of 4.4%.
GDP rose by an annualized 3.6% in the third quarter of 2009 and by 1.3% in Q2-2009.
Although GDP rose in 2009, GDP per capita fell, due to Israel's 1.7% population growth rate. GDP per capita fell 1.1% in fixed prices in 2009, after rising 2.2% in 2008 and 3.4% in 2007.
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