Israel’s Economy Grows by 5.3% in 2007

(December 31, 2007)

According to Israel's Central Bureau of Statistics, Israel's economy grew by 5.3% in 2007, twice that of other OECD nations. Israel's growth rate has exceeded 5% in four of the last five years. The year's economuc boom including a surge in business product, which grew by 6.3% while unemployment held steady at 7.4%. Private consumption per capita, the statistic most often used to judge the standard of living, also increased 5.3%. Israel also saw a 7% increase in total private consumption.

Source: Globes Online
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