The Central Bureau of Statistics (CBS) revised last week its preliminary GDP's estimate published less than three months ago noting that Gross domestic product grew 3.1% last year, 0.2 percent less than a preliminary estimate and down from 4.6 % in 2011.
The CBS figure compares with a preliminary estimate of 3.3%. In the fourth quarter, the economy expanded 2.4%, slower than the bureau’s 2.5% estimate from last month.
On a per capita basis, the bureau's updated figures showed growth of 1.2% in 2012, down from 2.7% in 2011 and 3.1% in 2010. By that measure, Israel's economic growth last year actually lagged behind the OECD's:
Based on purchasing power parity, per capita growth was just 80% of the OECD average. Government spending grew 3.4%, the highest level since 2007. Investment in fixed assets climbed 3.6%, though that followed two years of double-digit growth. Consumer spending rose 2.7%, the lowest since 2008.
Exports of goods and services barely grew at all - just 0.1% for the year, according to the bureau - following a 13.5% jump in 2010 and a 5.5% rise in 2011.