Israel releases latest economic update


The Bank of Israel released its latest Recent Economic Developments update today (February 14).

Covering the period of September–December 2011, the report contained mixed news. While growth in business activity continued to moderate, the narrowing of the output gap and the range of data on the labour market indicated that the economy reached the "vicinity of full employment" during the first half of 2011, the document said.

The report also revealed that the rate of inflation totalled 2.2% for

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