Israeli economy grew at 2.7% in Q2

Economic growth Photo: ASAP Shutterstock

GDP grew at a sluggish 2.1% in the first half of 2017, the Central Bureau of Statistics reports, down from 4.7% in the corresponding period of 2016.

GDP in Israel grew at 2.7% in the second quarter of 2017, the Central Bureau of Statistics reports. This is an improvement on the 0.6% growth in the first quarter (heavily influenced by a slump in new car sales) but well below the 4.4% growth in the fourth quarter of 2016. In the first half of 2017, the economy grew at a sluggish 2.1%, compared with 4.6% in the second quarter of 2016 and 4.7% in the first quarter of 2016.

In the second quarter of 2017, there was a 6.5% jump in private consumption and 5.2% rise in investment in fixed assets. However, exports of goods and services in the second quarter fell 8.8% on an annualized basis. These figures are all first estimates and are likely to be significantly revised.

Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Economic growth Photo: ASAP Shutterstock
Economic growth Photo: ASAP Shutterstock
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