Israel's Q2 growth revised upwards

Ashdod Port

The Israeli economy grew at 4% on an annual basis in the second quarter of 2016, the Central Bureau of Statistics reports.

The Central Bureau of Statistics today reported that the Israeli economy grew at 3% on an annual basis in the first half of 2016, compared with its previous 2.9% estimate and 2.7% GDP growth in the first half of 2015.

The Central Bureau of Statistics also raised its growth figure for the second quarter from its previous 3.7% estimate to 4%. The improvement in second quarter growth is attributable to a 10% increase in private consumption, an 8.6% rise in spending on public consumption, and a 5.1% rise in investments in fixed assets. Exports of goods and services were up by an annualized 10.9%.

Published by Globes [online], Israel business news - www.globes-online.com - on September 18, 2016

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

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