Israel economy grows 4.4% in Q4

Growth is highest since first quarter of 2008 as country continues to recover quickly from brief downturn
Reuters|
Israel's economy grew at an annualized 4.4% in the fourth quarter of 2009, its strongest spurt in nearly two years as the country continues to recover quickly from a brief downturn.
The Central Bureau of Statistics on Tuesday also left unchanged its third-quarter growth figure of 3.0% and full year 2009 estimate that the economy grew 0.5% to NIS 763 billion ($203 billion).
In 2010, the economy is forecast to grow about 3.5%.
Growth in the fourth quarter was the highest since the first quarter of 2008, when the economy grew 5.5%, and was the culmination of a year when the economy grew stronger each quarter.
After contracting an annualized 3.1% in the first quarter on the heels of the global crisis, Israel's economy grew 1.2% in the second quarter and 3% in the third.
Per-capita gross domestic product grew 2.4% in the fourth quarter.
Growth in the final three months of last year was fuelled by a 33% surge in exports and a 4.4% rise in consumer spending, the bureau said in its first estimate of fourth-quarter GDP growth.
Imports rose 13.8% but investment in fixed assets fell 9.4%.
Comments
The commenter agrees to the privacy policy of Ynet News and agrees not to submit comments that violate the terms of use, including incitement, libel and expressions that exceed the accepted norms of freedom of speech.
""