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(From Israel Business Arena)
Byline: Zeev Klein
Israel's economy grew by 3.5% in the past four quarters, slightly below the official Ministry of Finance 3.8% growth estimate for 2004-05. Business product grew by a higher 4.7% during this period, according to an analysis of Bank of Israel and Central Bureau of Statistics figures.
This is a good growth rate, lead by the business sector. The rapid 7% growth in business product during the first quarter of 2004 was influenced by one-time factors, and it was obvious to everyone that this pace could not persist for long. Business product excluding start-ups was 4.5%.
According to the figures, …