On 10 March, the Central Bureau of Statistics (CBS) published a revised figure for Israel's economic growth in 2014.
In fixed prices, GDP rose 2.8% in 2014, compared with 3.2% in 2013 and 3.0% in 2012. Business product (output in economic sectors, excluding public services) was up 2.7% in 2014, following rises of 3.4% in 2013 and 2.9% in 2012. Per capita GDP rose 0.8% in fixed prices in 2014, after rising 1.3% in 2013 and 1.1% in 2012.
According to the CBS report, seasonally adjusted figures for quarterly growth show 6.8% growth in the fourth quarter, compared with the previous figure of 7.2%, in the third quarter, 1.7% in the second quarter and 3.0% in the first quarter.
Total sources available to the economy were up 2.6% in 2014, following a 2.4% rise in 2013, with 2.3% growth in imports of goods and services. Figures for uses of sources show a 4.0% rise in spending on private consumption, a 4.2% rise in spending on public consumption, a 1.3% rise in exports of goods and services and a 2.5% drop in investment in fixed assets.
The CBS figures show that real domestic income (GDP plus profits or losses resulting from changes in the terms for overseas trade) was up 2.7% in 2014, 0.1% less than the increase in GDP, as a result of losses caused by a worsening of trade terms, compared with profits of 0.2% in 2013 and 0.9% in 2012.
