There was a sharp rise in GDP growth in Israel in the first quarter of 2019, the Central Bureau of Statistics reports. According to the first estimate the economy grew 5.2% on an annualized basis in the first quarter. This compares with 3.9% in the fourth quarter of 2018 and 2.8% in the third quarter of 2018.
After deducting the import of vehicles and the income from tax on those vehicles, the economy grew 3.7% in the first quarter of 2019 and 3% in the fourth quarter of 2018.
Expenditure on vehicles for private use grew almost 600% on an annualized basis in the first quarter of 2019 after rising 40.4% in the preceding quarter, due to the imminent reduction of tax benefits as part of the green tax law.
Business output rose 5.8% on an annualized basis in the first quarter of 2019, after rising 3.9% in the fourth quarter of 2018 and 2.5% in the third quarter of 2018.
Imports of goods and services rose 6.7% on an annualized basis in the first quarter of 2019 after rising 12.2% in the preceding quarter. Exports of goods and services grew 4.9% on an annualized basis in the first quarter of 2019.
Published by Globes, Israel business news - en.globes.co.il - on May 16, 2019
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