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Israel's Statistics Bureau Forecasts 4% Growth in 2010

The Israeli Central Bureau of Statistics (CBS) forecasts 4% growth for 2010 based on data it accumulated over the first nine months of the year. The growth figure is largely based on a new 9.1% growth forecast for 2010 exports. Exports, which comprise more than 40% of Israel’s economic activity, had dropped 12.5% in 2009. The CBS further expects consumer spending to grow 4.6% in 2010 following a smaller 1.7% rise in 2009, while investment in fixed assets is estimated to grow 6.2% following a 5.8% drop in 2009.The Bank of Israel has also forecast 4% growth in 2010, though 2011 growth is seen slightly lower at 3.8% owing to projected weakness in the economies of Israel’s main trading partners, the United States and Europe.

Israel’s Investment Promotion Centre