Q1- annualized growth rate reached 3.3%

The Central Bureau of Statistics ( CBS ) reported last week that owing to a revised estimates that in the first quarter of 2005 the economy grew an annualized rate of 3.3%, compared with 4.5% in the fourth quarter of 2004 and 3.5% in the first quarter of
04.07.05 / 00:00

The Central Bureau of Statistics ( CBS ) reported last week that owing to a revised estimates that in the first quarter of 2005 the economy grew an annualized rate of 3.3%, compared with 4.5% in the fourth quarter of 2004 and 3.5% in the first quarter of 2004.
 
The CBS revised upward its growth estimate for the first quarter by 0.4%, from 2.9% to 3.3%.
Per capita GDP, according to the revised estimates, grew 1.8% in the first quarter, compared with 2.3% in the preceding quarter and 2% in the corresponding quarter last year.
 
Per capita output in the first quarter of 2005 was NIS 71,100 just over $16,000, less than half per capita output in most Western countries. Total output was NIS 489 billion.
 
The standard of living (per capita consumption) fell in the first quarter, 0.7%, after rising 9.4% in the preceding quarter, and 5.5% in the first quarter of 2004.

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