CBS confirms 5.2% '05 economic growth

Exports of goods and services rose 5.6%, while domestic consumer spending grew 3.9%, investments in fixed assets 2.4%, and public spending rose 2%.

Israel's gross domestic product, the net value of all goods and services produced in the country, grew 5.2 percent in 2005, the highest growth rate since 2000, the Central Bureau of Statistics said Wednesday, confirming its preliminary estimate. Exports of goods and services rose 5.6%, while domestic consumer spending grew 3.9%, investments in fixed assets 2.4%, and public spending rose 2%. Business-sector product grew 6.6%, after 6.3% growth in 2004 and 2.5% in 2003. The GDP expanded 4.4% in 2004 and 1.7% in 2003. GDP per capita grew 3.3% in 2005, after rising 2.6% in 2004 and standing still the year before. The Finance Ministry has forecast that GDP will grow 4.1% in 2006, while the Bank of Israel is anticipating 4.3% growth.