BOL forecasts 7.5% industrial growth in 2010

In 2011 growth across almost all industries is expected to slow down. The construction industry is set for a rebound next year
 
The research department of the Bank of Israel reported last week that growth across almost all industries is expected to slow down in 2011, except for the construction industry, which is set for a rebound next year.
 
The central bank economists said in the report on the annual forecast of growth in principal industries, that: “Manufacturing product will expand by 7.5% in 2010 and 4% in 2011 respectively”.
 
The central bank forecasts a recovery in the construction industry. The report noted that: “A rebound in the construction industry is apparent”. It added: “Construction product is expected to grow by 4.8% in 2010 and by 7% in 2011”.
 
Growth in the trade and services industry is expected to expand 5.7% in 2010 and 3.6% next year, the report said. The transportation and communications industry is expected to grow 5.3% this year and 5% in 2011.