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State of the Economy index up 0.5% in March.
(From Israel Business Arena)
Byline: Zeev Klein
The economy is shifting into a higher growth gear. The State of the Economy index rose 0.5% to 108.9 points in March, its highest point in the past ten months, according to figures published today by the Bank of Israel research division.
The State of the Economy index rose by cumulative 2.5% in the first quarter, compared with the 2003 average. Since the end of the war in Iraq, the index has risen by a total of 3.6%, reflecting annualized growth of at least 4% in economic activity.
This figure is higher than the official forecasts for GDP growth (Ministry of Finance in 2004 2.8%, Bank of …
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