Economic Statistics for 1998

On December 30, 1998, the Israeli Central Bureau of Statistics released preliminary economic estimates for 1998. Here are a few highlights:

Israel's Gross Domestic Product (GDP) rose 2%, similar to 1997, but lower than the 4.5% increase in 1996 and the 7% increases in 1994 and 1995.

GDP per capita ceclined in 1998, after remaining static in 1997.

Total private consumption expenditure rose by 3%, or 1% per capita, continuing the downward per capita trend of recent years.

Unemployment rose to 8.7%, up from 7.7% in 1997 and 6.7% in 1996.

Productivity rose by 1% after declining in 1997.

The prices of goods and services rose by 6%.