Israel's Q2 growth again revised upwards

Israel's exports Photo: Bloomberg

The Israeli economy grew at 4.2% in the second quarter and 3.2% in the first half of 2016, the Central Bureau of Statistics reports.

The Central Bureau of Statistics today published its second revision for the second quarter and first half of 2016, as part of its figures for the national accounts. The first half growth estimate was upwardly revised from 3% to 3.2%, on an annualized basis. The second quarter growth rate was also upwardly revised from 4% to 4.2% on an annualized basis, with quarterly private consumption jumping 10%, public consumption up 8.6%, and exports of goods and services, excluding startups and diamonds, booming ahead by 13.7%.

The new figures show that private consumption was again the growth engine for the economy, posting 7.2% growth in the second quarter. Exports of goods and services, excluding startups and diamonds, were up by an annualized 4.1%. Public spending was up 3.7%, while investments in fixed assets soared 13.4%.

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Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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Israel's exports Photo: Bloomberg
Israel's exports Photo: Bloomberg
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