Roubini on Israel: Positive GDP Growth Despite Global Crisis
Written by: Aaron Katsman | January 15, 2009
The famed economic forecaster, Professor Nouriel Rubini, who is professor of economics at the Stern School of Business, has come out saying that he thinks Israel will sport GDP growth of about 1% in 2009. While that’s well off the 5-8% growth seen in recent years, it is still far superior to the projected growth( or negative growth) of most developed countries.
Globes reports:”RGE Monitor’s projection is for negative global growth of 0.5% in 2009. This is a far more pessimistic forecast than that of the IMF, whose latest estimate is for 2% positive growth. According to RGE, the US economy is so far only halfway through the recession that began to manifest itself in December 2007. The firm says this will be the longest recession in the US economy since the Second World War. RGE sees the US economy shrinking by 3.4% in 2009.”
He also sees Euro zone negative growth of 2.5%.
For investors looking for strong economies in a global slowdown, it pays to take a look at Israel.
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Aaron Katsman is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
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