The economy grew at a 1.3% annualized rate in the first quarter, the Central Bureau of Statistics now estimates.
The Israeli economy grew at a 1.3% annualized pace in the first quarter, according to an estimate published today by the Central Bureau of Statistics.
The current estimate constitutes an upward revision of the 0.8% original estimate, below the government's forecast, and following 3.4% GDP growth in the fourth quarter of 2015.
According to the Central Bureau of Statistics, a 4.8% rise in private consumption and a 16.2% jump in investments in fixed assets accounted for the upward revision. One of the main factors having a negative impact on growth was the steep drop in exports of goods and services in the first quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2016
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Moshe Kahlon