The 2017 Central Bureau of Statistics report showed that Israel's GDP growth had slowed; increasing 3% in 2017 compared to 4% in 2016. Israeli GDP per capita rose 1% in 2017, while the average OECD country saw a 1.9% increase. Private consumer spending in Israel rose 3% in 2017. According to World Bank data, since 2011 the Israeli economy has grown by a cumulative 21.6%, exceeding all other OECD nations.
The Israeli economy was ranked the third most stable economy in the world by the Bloomberg financial news agency in April 2017, with only Hong Kong and South Korea placing higher on the list. The World Economic Forum’s 2016-2017 Global Competitiveness Report ranked Israel as the second best place in the world for innovation, ranking only behind Switzerland. Israel was ranked as the 23rd richest country in the world by MSN Money in December 2017.