Israel's economy picked up in the last quarter of 2010, chalking up 7.8 percent growth and a higher-than-expected annual growth rate of 4.5 percent, official figures show on Thursday.I guess that the BDS movement didn't manage to boycott enough Israeli hummus last year.
The figure took analysts by surprise, outstripping expectations of a fourth-quarter growth rate of around 4.0 percent.
Central Bureau of Statistics data show the economy grew by 5.2 percent in the second quarter and 4.4 percent in the third.
Earlier this week, the Bank of Israel (BoI) had predicted fourth-quarter growth of between 4.3 and 4.6 percent.
The annual growth figure far outstrips the 2.8-percent average registered in 2010 by countries of the Organisation for Economic Cooperation and Development, the club of developed nations which Israel joined last year.
It also exceeded OECD estimates, which showed Israeli GDP growing by 3.9 percent in 2010.
Last month in its annual report, the International Monetary Fund (IMF) said the Jewish state had emerged "relatively unscathed" from the global recession, and praised the "resilience" of its economy.
Thursday, February 17, 2011
BDS Fail: Israel's economy surges