Off the wire
• 2nd LD Writethru: UN deplores targeting of people on account of religious affiliation  • Kroos expects tougher Champions League meet with Schalke  • Sierra Leone leader vows to punish misuse of Ebola funds  • Urgent: UN deplores targeting of people on account of religious affiliation  • 1st LD: UN deplores targeting of people on account of religious affiliation  • Guangdong: Processing trade beaten for first time in two decades  • Xinhua Asia Pacific news summary at 1600GMT, Feb. 16  • Sudan, AU and UN weigh exit of UNAMID from Darfur  • Feature: China's young migrants dream big  • EU boosts humanitarian aid to Sahel region  
You are here: 　 Home

Israeli economy rebounds after downturn due to Gaza conflict

Xinhua, February 17, 2015 Adjust font size:

Israeli economy bounced back by 7.2 percent in the fourth quarter of 2014, recovering from a downturn in the third quarter due to fighting in Gaza, said the country's Central Bureau of Statistics Monday.

The new figures surpassed economists' forecasts which predicated a moderate 2.7-3.3 percent economic growth in the same quarter.

The growth came after Israel's 50-day-long war in Gaza in July and August dented the country's economy, leading to a small 0.6 percent growth in the third quarter.

Recovery was felt across all sectors, prompting the Central Bureau of Statistics to scale-up growth for 2014 to 2.9 percent, from a previous of 2.6 percent, a little less than a 3.2 percent growth pace in 2013.

The increase was mainly owing to a 7.3 percent rise in exports, accounting for about 40 percent of Israeli economy, and a 6.8 percent rise in private spending, another major economy driver. Endit