Monday, December 31, 2012

What Passes For "Bad Economic News" In Israel

Israel's left-wing opposition slams Netanyahu's government because growth according to preliminary estimates was "only" 3.3% in 2012. Even setting aside from the fact that it was more like 4% if you take into account the improvement in Israel's terms of trade, 3.3% is of course higher than in virtually all other advanced economies in 2012.