Labor productivity surges in 2020

ISRAEL - Report 22 Feb 2021 by Jonathan Katz

GDP numbers surprised on the upside in 2020, and labor productivity surged by 6.8%. Despite recent weak economic indicators, rapid vaccination and the opening of the economy will support strong household demand. Inflation surprised on the upside as prices of housing (rental) and durable goods moved higher. We expect inflation to reach 0.9% this year on higher commodity prices, pent-up demand, and a stable shekel.

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