Bethel Finance: Manufacturers see just 0.8% growth in Israel next year

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Bethel Finance news:
Manufacturers Association of Israel sees a sharp slowdown in growth and predicts other negative economic data in its report for 2012 that was published today.

The Manufacturers Association sees two potential scenarios for 2012. The more optimistic scenario sees 2.7% growth and 6.4% unemployment. But the more pessimistic scenario sees the euro zone debt crisis deepening and growth in 2012 falling to just 0.8% - the same as 2009 in the wake of the global financial crisis.

The pessimistic scenario sees unemployment in Israel rising from 183,000 to 229,000 about 7%. Investment in the economy would fall 13.4%, exports of goods and services will fall 2.4% and private consumption would only rise by 1.6% compared with 5% in 2010 and 2011.