Israel's economy grew at 3.4% in Q4 2011

April 16, 2012 19:32


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Israel's GDP rose at a seasonally adjusted annual rate of 3.4 percent in constant prices in the fourth quarter of 2011, the same growth rate as in the preceding quarter, the Central Bureau of Statistics reported Monday.

Despite fears that the slowing of Israel's GDP growth would intensify, the figures show that the growth rate was stable. GDP rose at an annual rate of 3.5% in the second half of 2011, down from over 5% in the first half.

However, private consumption, a key growth driver, was barely changed, rising just 0.4%, and exports of goods and services fell by 2%, due to the economic crisis in Europe, a key export market, and the slowdown in the US.

Consumption trends are especially worrying. Spending on durable goods per capita, which reflects the standard of living, fell by an annualized 15.2% in the second half of 2011.

Related Content

Breaking news
July 19, 2018
Report: Israel and Hamas reach understanding to refrain from war