Israeli economy grew at just 1% in Q2 2019

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The slowdown in the second quarter was due to a sharp drop in vehicle imports, the Central Bureau of Statistics reports.

According to the first estimate by Israel's Central Bureau of Statistics, the economy grew by just 1% on an annualized basis in the first quarter of 2019. This reflects a sharp slowdown from 4.7% in the first quarter of 2019 and 4.2% in the fourth quarter of 2018. The sluggish growth in the second quarter of 2019 results from a steep fall in public consumption and investment in fixed assets, which were impacted by a major drop in vehicle imports.

Israel's economy grew by 3.6% in the first half of 2019 on an annualized basis, compared with 3.5% in the first half of 2018.

Published by Globes, Israel business news - en.globes.co.il - on August 18, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Growth Photo: Shutterstock
Growth Photo: Shutterstock
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