Economic recovery: Israel's economy expands in the second quarter

Israel's economy grew by 1% in the second quarter of 2009, surprising many analysts. The economy shrank 3.2 percent in the previous quarter, the Jerusalem-based Central Bureau of Statistics reported on its Web site today, revising a previously reported 3.7 percent contraction.“I wasn’t expecting to see a turnaround so soon,” Vered Dar, chief economist at Psagot Investment House, said before the