The Manufacturers Association predicts 2.7% GDP growth and 7.7% unemployment next year.
The Manufacturers Association of Israel believes that 2013 will see Israel's growth rate slow further and unemployment rise. It predicts 2.7% GDP growth and 7.7% unemployment next year.
The Central Bureau of Statistics estimates 3.5% growth in 2012. The Manufacturers Association's growth forecast is below the 3% forecast by the Bank of Israel.
The Manufacturers Association's growth estimate means that per capita growth will slow to 0.9% in 2013 from 1.7% in 2012. Its unemployment forecast means a net 23,000 more unemployed to a monthly average of 286,000 in 2013 from 263,000 in 2012.
The Manufacturers Association forecasts that business product growth will slow to 2.3% in 2013 from 3.4% in 2012 and 5.1% in 2011. It predicts 5.3% growth in industrial exports (excluding diamonds) in 2013, compared with 5.6% growth in 2012 and 4.1% growth in 2011. It also expects the growth in services exports to slow from 5.2% a year in 2011-12 to 4.1% in 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on October 31, 2012
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