The Central Bureau of Statistics (CBS) reported last week that GDP grew by an annualized 7.2% in the fourth quarter, following only 0.6% annualized growth in the third quarter, when Operation Protective Edge took place, and 2.0% in the second quarter.
Israel's economy, according to the CBS, is poised to rebound further in 2015 from the effects of last summer's Gaza war after a strong recovery in the final three months of 2014 led to the fastest quarterly growth in nearly eight years.
The rebound us similar to late 2006 and early 2007, when war in Lebanon was followed by a surge in growth.
The fourth quarter of 2014 saw gross domestic product grow an annualized 7.2% expansion, a rebound similar to late 2006 and early 2007, when war in Lebanon was followed by a surge in growth.
The increase in GDP in the second half of 2014 reflects a rises of 7.9% in spending on public consumption, 5.4% in spending on private consumption, and 0.6% in exports of goods and services, while investments in fixed assets were down 1.9%. Imports of goods and services rose 3.0% in the second half of 2014, while total sources available to the economy in the second half (from domestic production and imports) were up by an annualized 2.5%, following a 1.8% increase in the first half.
