Font Size: A A A
Go to:
×
More in Industry & Trade: Customs | Economy | Trade | Infrastructure
Voyage Search
General Shipping Search
Please select a port in Israel
Please select a port overseas
Exports from Israel
Imports to Israel
Tools & Calculators
Currencies
Update date: 30.03.2020
Currency Rate % Change
USD 3.586 -0.333
EUR 3.965 0
GBP 4.4583 +1.825
100 JPY 3.3183 +0.384
Currency calculator
Calculators
length area vol. weight
cm
m
km
inch
foot
yard
mile
Clear
square cm
square m
square km
square inch
square yard
square mile
Clear
cc
litre
cubic m
cubic inch
cubic yard
gallon
Clear
kg
short ton
long ton
lb
oz
Clear
Volume Weight Calculator
Ports' Workplan

Merrill Lynch cut its 2009 growth forecast for Israel

In its update on emerging markets Merrill Lynch has cut its 2009 growth forecast for Israel from zero to - 0.7%. It kept, however, its 2010 growth forecast for Israel unchanged at 1.5% growth
09.03.09 / 00:00

In its update on emerging markets Merrill Lynch has cut its 2009 growth forecast for Israel from zero to - 0.7%. It kept, however, its 2010 growth forecast for Israel unchanged at 1.5% growth.
 
According to the new update Merrill Lynch forecasts weaker exports and a worldwide contraction in trading volume as the main reasons for the lower growth Merrill Lynch revised forecast follows UBS forecast, published last month, which lowered its 2009 growth forecast for Israel to minus 0.8%.
 
Merrill Lynch's analysts cite Israel's exposure to the growing global recession, with 70% of Israeli exports destined for the U.S. and Europe, hence Israel is not immune to the global recession. Since Israeli exports to the US accounting for almost 17% of Israeli GDP, GDP growth is likely to contract in 2009 with a modest recovery in the second half of the year. To counteract the deterioration in the growth outlook, the budget deficit will widen to 5% of GDP.
 
Merrill Lynch predicts that Israel's inflation will reach 1% in 2009 and with inflation no longer a concern, the Bank of Israel will remain firmly focused on growth. The Bank will then cut the interest rate further to 0.25%.

 

×