Israeli economy grew 3.5% in past four quarters.

(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, …