Israel Growth Slows To 3.3% In 2013

(RTTNews) - Israel's economy expanded at the slowest pace in four years in 2013, preliminary estimates from the statistics bureau showed on Tuesday.

Gross domestic product rose 3.3 percent this year, following a 3.4 percent expansion in 2012. The pace of expansion was the slowest since 2009, when the economy grew 1.2 percent.

Private consumption rose 4 percent and public spending grew 3.2 percent. Fixed asset investments increased 0.3 percent.

In the third quarter, GDP rose 2 percent, the agency said, following 4.7 percent growth in the second quarter and 2.4 percent expansion in the first three months of the year.

The Bank of Israel has forecast 3.3 percent growth for 2014. The central bank's research staff had estimated 3.5 percent growth for this year.