Recent Economic Developments, 100

Overview:

The economic indicators that have provided evidence of an economic recession since the last quarter of 2000 showed no improvement in the second half of 2002 (henceforth ‘the period reviewed’), and some actually indicate further deterioration. Real activity contracted
due to a fall in domestic demand and the slow growth of world trade. Israel’s foreign trade reacted slowly to the significant real depreciation that took place in the first half of 2002 real wages declined markedly for the first time, and the rapid rise of prices in the first half of the year halted, following a series of measures instituted by the policymakers towards the end of the first half of the year.

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