Exports up
צילום: לע"מ
Despite fears: Economy up by 4.9%
Economy grows by annualized rate of nearly 5 percent during first half of 2005, after an increase of 5.4 percent in previous six months
The local economy grew by an annualized rate of 4.9 percent in the first half of 2005, following a 5.4 percent increase in the previous six months. In the first half of 2004, the economy grew by 4.7 percent. The figures come despite fears of an economic slowdown.
The increase in the last six months reflects a boost in the exportation of goods and services, as well as an increase in private consumption.
Business production up
According to the Central Bureau of Statistics, production in the second quarter of 2005 increased by an annualized rate of 5.6 percent, following an increase of 3.9 percent in the first quarter. Production increased by 6.4 percent in the last quarter of 2004.
Meanwhile, business production increased by 6.1 percent in the first half of the year, after it grew by 7.6 percent in the previous six months and by 6.6 percent in the first half of 2004.
The latest growth reflects an increase in production in local industry and in most business services sectors.
