The Central Bureau of Statistics today downwardly revised the annualized 5.2% estimate it issued in May for first quarter 2019 economic growth to an annualized 4.8%. The growth figures were greatly affected by car imports ahead of an increase in taxes. Excluding car imports, estimated economic growth in the first quarter was 3.3%, down from the 3.7% estimate issued in May. The economic growth rate in the fourth quarter of 2018 was 2.9%. RELATED ARTICLES OECD cuts Israel's 2019 growth forecast Israeli economy grew at 5.2% in Q1 2019 An analysis of the elements of growth shows that business product rose 3.9% in the first quarter, compared with the 5.8% May estimate. Exports grew by an estimated 3.9% (4.9% in the May estimate), private consumption was up by an estimated 6.6% (7.6% in the previous estimate), and imports jumped 14.6% (compared with 6.7% in the May estimate). Published by Globes, Israel business news - en.globes.co.il - on June 16, 2019 © Copyright of Globes Publisher Itonut (1983) Ltd. 2019
