Business activity has expanded for the third quarter of 2011 though marked moderation in the pace of growth was noticed, a survey conducted by the Bank of Israel on companies and businesses found. The survey said expectations for the next quarter indicate that the domestic component as well as the manufacturing and services industries will slow down as well as the pace of growth for the first time since 2009. The survey expects inflation for the coming twelve months to return to within the 1-3 percent per year price stability target range, and said it currently averages 2.6 percent compared with 3.1 percent in the previous quarter.
