Rapid growth forecast for Israel.

Position:Brief article

The Bank of Israel (BOI) says that the country's economy is "back to rapid growth," following an annualized GDP expansion of 7.3 percent during the final quarter of 2006. In its report, titled, "Recent Economic Developments," published on May 9, 2007, the BOI also said that two specific first quarter 2007 indicators confirmed the rapid growth scenario. Those two indicators are favorable showings from the sales revenue index and manufacturing production.

Israel's Consumer Confidence Index (CCI) supported the BOI's positive take on the economy. The CCI rose from 84 points in March 2007 to 85 points in April 2007 after gaining 3 points each in February 2007 and January 2007. Israel's CCI is prepared by Globes (Rishon Le-Zion), the Israeli business daily...

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