The Israeli economy grew by 0.2% in the third quarter of 2014, following 2.8% and 1.9% growth in the second and third quarters of the year, respectively, according to the third quarter GDP estimates published today by the Central Bureau of Statistics. The Central Bureau of Statistics initially estimated that the economy shrank 0.4% in the third quarter during Operation Protective Edge.
Imports of goods and services jumped 12.6% in the third quarter, while exports of goods and services were up 4.6%.
The moderate rise in GDP reflects increases of 3.4% in private consumption and 4.4% in public spending. At the same time, business product fell 0.5%, and investments in fixed assets were down 6.5%.
Based on preliminary figures for the first eight months of 2014, the Central Bureau of Statistics is predicting that growth in 2014 as a whole will be only 2%, compared with 3.2% in 2013. This is equivalent to negligible or even negative growth in per capita GDP.
Published by Globes [online], Israel business news - www.globes-online.com - on January 18, 2015
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