GDP growth stronger than expected

As reported in Globes:

The Israeli economy continues to grow rapidly. The Central Bureau of Statistics reported today that gross domestic product (GDP) grew at an annual pace of 3.8% in the third quarter of 2010 – well above the analysts’ predictions of 2.5-3%. This follows 4.5% growth in the second quarter of 2010 and 3.9% growth in the first quarter.

The figures reported today are a first estimate of third quarter GDP.

The rise in GDP in the third quarter reflects a notable rise in public expenditure and investments in fixed assets. On the other hand, there was a modest rise of 1.3% in private consumption, and a 9.6% fall in exports of goods and services in the third quarter of 2010.

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