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- Moderate growth continued in Israel’s economy during the past two quarters, against the background of the prolonged slowdown in global economic growth. There was a slight recovery in business-sector activity in the beginning of 2013, as export volume increased.
- The slowdown in the growth of employment in the economy reflects a virtual standstill in employment in business sector industries, in the last 3 quarters of 2012, which was followed by a decline in employment in this sector in the first quarter of 2013, against the background of the slowdown in economic activity and in exports. Continued employment growth in the economy derives from an increase in employment in public services (mainly the public sector and non-profit institutions).
- The real wage in business sector industries increased beginning in the middle of 2012, after standing still in 2010–11. This increase derives from, among other things, a change in the composition of employees, with a decline in additional new employees at lower entry level wage.
- An historical examination of the characteristics of revisions in the quarterly GDP growth estimates indicates that although there were noticeable revisions in the past, they do not indicate a lack of efficiency in issuing the estimates, they do not generally change where the estimate stands relative to the growth trend and their size is not out of line with that observed in other advanced countries.