JERUSALEM, Oct 18 (Reuters) - Israel's economy is forecast to post zero growth in 2009, down slightly from a prior estimate last month of 0.1 percent growth, the Central Bureau of Statistics said on Sunday.
The bureau said its estimate was based on data from the first seven to nine months of 2009.
The economy grew an at annual rate of 1 percent in the second quarter to start emerging from a recession. It had grown 4 percent in 2008.
Government spending is expected to rise 2.7 percent compared with 2.1 percent last year. Excluding state spending, the economy is predicted to contract 0.9 percent.
The bureau estimated that consumer spending would grow 0.6 percent this year after a 3.6 percent spurt in 2008. Hurt by a global slowdown, exports -- nearly half of Israel's economic activity -- look to decline 13.2 percent after last year's 5.2 percent increase.
Investment in fixed assets is forecast to slip 5.9 percent this year following a 4.4 percent rise in 2008.
Gross domestic product per capita is estimated to decline 1.8 percent to 103,200 ($27,800).
(Reporting by Steven Scheer, editing by Will Waterman) Keywords: ISRAEL GDP/ (steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: steven.scheer.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The bureau said its estimate was based on data from the first seven to nine months of 2009.
The economy grew an at annual rate of 1 percent in the second quarter to start emerging from a recession. It had grown 4 percent in 2008.
Government spending is expected to rise 2.7 percent compared with 2.1 percent last year. Excluding state spending, the economy is predicted to contract 0.9 percent.
The bureau estimated that consumer spending would grow 0.6 percent this year after a 3.6 percent spurt in 2008. Hurt by a global slowdown, exports -- nearly half of Israel's economic activity -- look to decline 13.2 percent after last year's 5.2 percent increase.
Investment in fixed assets is forecast to slip 5.9 percent this year following a 4.4 percent rise in 2008.
Gross domestic product per capita is estimated to decline 1.8 percent to 103,200 ($27,800).
(Reporting by Steven Scheer, editing by Will Waterman) Keywords: ISRAEL GDP/ (steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: steven.scheer.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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