Therefore, any lecture that deals with the Israeli economy must begin with a description of the global economic situation. The global economy grew by 3.2 percent in 2012 – very close to the 3 percent rate that is considered the baseline of a global recession.
When the Canadian dollar rises or falls, we try to determine the degree to which those movements are due to changes in world demand for our goods and services, and how much is due to other, unrelated factors.