The Bank of Israel (BoI) published last week the State of the Economy Index for December 2007 indicating an increase of 1.2%.
According to the BoI, the State of the Economy index was up by 3.4% in the fourth quarter.
The State of the Economy index rose 8.3% in 2007, after rising by 7.5% in 2006. The index rose 33.8% in 2003-07, an average of 6.8% a year.
The BoI also noted that the increase in 2005-07 was even more rapid showing a rise of 7.4% a year.
According to the BoI the index figures show that the economy's rapid growth is continuing, and that there are no signs of a slowdown at the moment.
The manufacturing component of the index fell by 0.5% in November after rising 2.7% in October.
Services exports, which include high-tech, rose by 13% in December, after falling 4% in November.
Trade and services proceeds were up by 0.3% in November 2007 and by 0.7% in October-November.
Export of goods rose by 2.4% in December and by 4.4% in November-December. Imports rose by 3%. Business employment also rose.
