CBS: Home construction to rise by 11%

Central Bureau of Statistics' annual report reveals that Israel's GDP will grow by 4% in 2010.

By ADRIAN FILUT
West Bank construction 311 (photo credit: Miri Tzachi)
West Bank construction 311
(photo credit: Miri Tzachi)
Israel’s GDP will grow by 4 percent in 2010, after growing 0.8% in 2009 and 4.2% in 2008, the Central Bureau of Statistics reported Sunday in its “First Annual Flash Estimates of the National Accounts for 2010.”
GDP per capita will be NIS 105,500 in current prices, 2.1% higher than in 2009, the report said.
The estimates are very close to the figures released two months ago, in which the statistics bureau predicted 4.1% GDP growth for this year. Annualized GDP growth in the first half of the year was 4%.
The statistics bureau predicted that investment in residential construction will rise 11.1% in 2010, after rising 5.5% in 2009 and 10.2% in 2008. It also predicted a 4.6% increase in private consumption in 2010, after rising 1.7% in 2009 and 3% in 2008. Public expenditure will rise 4%, after rising 2.5% in 2009 and 2.6% in 2008. Exports of goods and services will rise an average of 9.1%, after falling 12.5% in 2009 and rising 5.9% in 2008. Investment in fixed assets will rise 6.2% in 2010, after falling 5.8% in 2009 and rising 3.9% in 2008, the report said.