GDP's down from 4.7% in the first quarter of 2011 and 7.4% in the fourth quarter of 2010
The Central Bureau of Statistics (CBS) announced last week that preliminary estimates indicate that Israel's economic growth is slowing.
The CBS noted in a press release that GDP rose by an annualized 3.3% in the second quarter of 2011, down from 4.7% in the first quarter and 7.4% in the fourth quarter of 2010.
Private consumption expenditure rose 2.2% annually, while in the previous quarter it climbed 7.8%. Gross fixed capital formation climbed 8.8% during the three-month period, sharply slower than first quarter's 19.4% growth.
The CBS also noted that exports of goods and services rose by an annualized 3.4% in the second quarter, private consumption rose by an annualized 2.2%, investment in fixed assets rose 8.8%, and civilian public consumption rose by 6.3%.
During the first half of the year GDP rose by an annualized 5%, after growing 5.7% in the second half of 2010 and 5.6% in the first half.
