JERUSALEM, Nov. 16 (Xinhua) -- Israel's gross domestic product (GDP) grew at an annual rate of 12.4 percent in the third quarter, according to a report by the Israeli Central Bureau of Statistics on Sunday.
The increase marks a shift following a 4.3 percent contraction in the previous quarter.
The business sector expanded at an annual rate of 14.9 percent after contracting by 6.8 percent in the second quarter.
Private consumption spending rose by 23 percent in the third quarter after falling by 5.3 percent in the second quarter.
Investment in fixed assets such as buildings and equipment increased by 36.9 percent following a 12.8 percent decline in the previous quarter.
Israel's imports of goods and services increased by 16.5 percent in the third quarter compared with an 8 percent increase in the second quarter. Its exports increased by 23.3 percent, after a 5.7 percent decline in the second quarter.
