Globes quotes a CBS report according to which preliminary estimates indicate that in 2009, which will go down as a difficult year for the global economy, Israel's gross domestic product (GDP) grew by 0.5%, as opposed to an OECD average of negative 3.5%.
Forecasts for 2009 stated that Israel’s GDP would shrink by 1.5%. In September, the Bank of Israel upped its forecast to 0% growth. It appears that the actual figures exceeded the most optimistic forecast.
Israel's GDP grew by an impressive 3% in the third quarter of 2009, as compared to 1.1% growth in the second quarter, and -3.2% in the first quarter.
According to the CBS, Israel’s GDP growth per capita declined by 1.3% but in OECD countries average per capita growth slid by 4%.
Israel’s Unemployment rate in 2009 stood at 7.7%, while the OECD average came to 8.2%.
