The Israeli economy has grown by an annual rate of 2.9% in the first quarter of 2012, according to a second round of estimates released by the Central Bureau of Statistics.
A preliminary estimation signaled a 3% growth.
According to the CBS, the economy grew by 3.1% in the final quarter of 2011 and 3.3% in Q3 of that year.
The upwards trend indicates an increased scope of financial activity by most parameters. Business GDP was up 2.6% and private consumer spending was up 3.7%.
Meanwhile, exports of goods and services have grown by 3.4% and government consumption increased by 3.3%.
A whopping 7.3% increase registered in fixed asset investment, which includes acquisition of equipment, establishment of new businesses and investment in real estate. The import of goods has experienced a growth of 6.7%, after seeing a drop of 4.5% in the previous quarter.
Expenditures on durable goods per capita were down by an annual rate of 4.8% in Q1 2012, after dropping 17.4% in the preceding quarter. Expenditures on household appliances have increased by an annual rate of 8.7%, after dropping 16.3% in the previous quarter.
Spending on furniture saw a growth of 2.8% while outlay for cars dropped 14.3% in Q1, both at the annualized rate.