The Central Bureau of Statistics (CBS) has updated its estimates and noted that Israeli economy is expected to grow by only 2.2% in 2014, its lowest growth rate in five years, after 3.2% growth last year and 3% growth in 2012.
GDP grew by an annualized 2.5% in the first half of 2014, after 3.2% growth in the second half of 2013 and 3% growth in the first half of that year.
Per capita gross domestic product will increase just 0.3% this year, the lowest rise since the global recession year of 2009. Growth of 1.2% is indicated in exports of goods and services excluding diamonds, after growth of 0.9% in 2013 and 5.1% in 2012. Investment in fixed assets shows a fall of 0.9%, after a rise of 1.1% in 2013 and a rise of 3.2% in 2012.
The Central Bureau of Statistics estimates that private sector product will rise by just 1.9% this year, after rises of 3.4% in 2013 and 2.9% in 2012.
