Israel's economy grew at 3.6% in H1 2019

Growth Photo: Shutterstock

According to the Central Bureau of Statistics' second estimate, the economy grew by 3.6% on an annualized basis in the first half of 2019.

According to the second estimate by Israel's Central Bureau of Statistics, the economy grew by 3.6% on an annualized basis in the first half of 2019. This compares with 2.8% in the second half of 2018 and 3.5% in the first half of 2018.

The half yearly growth figure is a better indicator of the state of Israel's economy than the quarterly figures, which were greatly influenced by the tax hike on cars at the end of the first quarter. Consequently, the economy grew at just 1% in the second quarter of 2019 and 4.6% in the first quarter, after rising 4.2% in the fourth quarter of 2018.

Private consumption expenditure fell by 1.1% in the second quarter of 2019 after rising 4.2% in the first quarter of 2019 and 5.4% in the fourth quarter of 2018.

Published by Globes, Israel business news - en.globes.co.il - on September 16, 2019

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

Growth Photo: Shutterstock
Growth Photo: Shutterstock
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