The Israeli economy grew at an annualized rate of just 0.8% in the first quarter of this year, the Central Bureau of Statistics reported today, in an initial estimate for the first quarter in comparison with the fourth quarter of 2015, seasonally adjusted. This is a much lower growth rate than the Ministry of Finance forecast for the year as a whole. The ministry's forecast stands at 2.8%. The Central Bureau of Statistics' figures raise the pressure on the Ministry of Finance and the Bank of Israel to lower their annual growth forecasts. RELATED ARTICLES Israel's exports slump 22% Israeli wages static for fifteen years - report The Central Bureau of Statistics states that, at annualized rates, private sector gross product fell by 0.4%, private consumption rose 4%, investment in fixed assets rose 7.5%, exports of goods and services fell 12.9%, and public spending fell 1.7% in the first quarter of 2016 in comparison with the fourth quarter of 2015. Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
