07.17.12, 07:00–The Central Bureau of Statistics said Monday that the Israeli economy grew by an annualized 2.7% in the first quarter of 2012, failing to reach the projected 3%.
The new figures prompted the CBS to revised its gross domestic product (GDP) estimates for Q1-2012 downwards to an annualized 2.7%, compared with 2.9% in its second reading and 3.1% its original estimate.
The revision is the second within one-month’s time.
According to the CBS, Israel’s growth rate has been slipping steadily since an unprecedented annualized growth rate of 7.2% was reached in Q4-2010.
The Central Bureau of Statistics also reported a slowdown in exports, imports, consumption, and investments…Read More>>