CBS: Economic growth exceeded expectations in Q2

August 16, 2012 13:41


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The Israeli economy grew an annual rate of 3.2 percent in the second quarter, defying predictions of a slowdown, according to a preliminary report released Thursday by the Central Bureau of Statistics.

This was aided by annualized increases of 10.3% in the value of exports, 5.4% in private consumption expenditure, and 1.8% in public consumptions expenditure, in addition to a 1.1% decrease in fixed asset investments.

Gross domestic product increased at an annual rate of 2.8% in the first quarter of 2012 and 3.1% in the final quarter of 2011.

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