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Economic Research: International Economic Outlook: The Strong Shekel Presents Israel's Economy With A New Test Jun 10
Standard & Poors, June 2010
Israel is emerging from the global recession faster than many other countries, although it's now struggling to contain inflationary pressures. Exports, especially to the U.S. and Europe, are crucial to the country's future growth. However, Standard & Poor's Ratings Services considers that the outlook for export revenues, which consistently provide over 40% of GDP, is complicated by the austerity measures being put in place by Israel's trading partners. Preliminary figures released by the Central Bureau of Statistics (CBS) indicate that growth in Israel's economy slowed in the first quarter of 2010. GDP rose by just 2.0% year-on-year in Q1 2010, compared with 4.6% in Q4 2009. We attribute this decline to the 7.3% fall in exports of goods and services,...
Companies mentioned in this report are: Israel (State of)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Israel (State of)