Israel's third quarter GDP slows

The GDP slowed to 2/9% annualized, from 3/4% in the preceding month
 
The Central Bureau of Statistics (CBS) reported last week that Israel's GDP growth slowed to an annualized 2.9% in the third quarter of 2012 from 3.4% in the preceding quarter, and 3.1% in the first quarter. According to the report exports of goods and services and investment in fixed assets both fell.
 
The report also noted that despite a 1.5% annualized increase in private consumption during the third quarter of 2012, private consumption per capita (the standard of living) fell by an annualized 0.5%, after rising by an annualized 1% in the second quarter of 2012 and by over 5% in the first quarter of 2012.
 
According to the CBS the drop in private consumption per capita, includes a 20% drop in per capita expenditures on durable goods which is the best economic indicator of the standard of living.