Central Bureau of Statistics has revealed that in the first half of 2007 Israel's gross domestic product rate (GDP) grew 6.6 percent as compared to 6 percent in the same period of 2006.
GDP expanded 3.4 percent in the second half of 2006.
This growth has exceeded the expectations of Treasury and the Bank of Israel both of whom had predicted around 5 percent of rise.
Better exports, investments and domestic consumption contributed to the improved GDP.
Expenditure on private consumption surged 7.5 percent during the period as against 5.6 percent in the second half of 2006.
Sharp rise of 34.6 percent was seen in household capital expenses such as furniture and household equipments. Current expenses such as food, drink, clothing, gas, electricity and various services such as health and education rose by 3.2 percent.
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