Israeli economy bounces back from war

Israel’s economy has more than recovered from the setbacks of the Lebanon
war, new data revealed. The Central Bureau of Statistics announced
this week that between November and January, Israeli exports increased by 22
percent, industrial output by 7.9 percent and consumer spending between 3.2 percent and
10.5 percent. The indicators show a dramatic reversal of the decline
registered in the third quarter of 2006, when Israel waged a 34-day war against Hezbollah. Among the sectors hardest hit by that conflict was
tourism, but the bureau reported a 26.8 percent rise in hotel occupancy by
foreigners over the past two months.

NEXT STORY