Israeli Diamond Portal Reports: Israel's Economic Growth Beats Expectations

Jan. 3, 2010 - PRLog -- 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%.

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The Israeli Diamond Industry organizations
Behind the Israeli Diamond Industry are a group of vital and dynamic institutions. Each one is responsible for a different aspect of the industry’s activities.