GDP in Israel
Israel - GDP
Economic growth remains robust in the first quarter of the year
According to preliminary data released by the Central Bureau of Statistics (CBS) on 16 May, the Israeli economy grew a robust 4.2% quarter-on-quarter at a seasonally-adjusted annualized rate (SAAR). Although the result came in slightly below the prior quarter’s revised print of 4.4% (previously reported: +4.1% quarter-on-quarter SAAR), it was driven by a strong increase in domestic demand, while the external sector’s performance worsened.
Private consumption growth quadrupled in the quarter, logging impressive 11.0% growth (Q4 2017: +2.5% qoq SAAR). The strong reading benefitted notably from a massive jump in durable goods consumption, while expenditure on semi-durable goods also rebounded in the quarter. Fixed investment recorded a noticeable turnaround, growing 20.3% and contrasting the -0.3% contraction witnessed in the prior quarter. This was due to stronger investment in industries, as investment in residential buildings contracted for the fourth consecutive quarter. Government expenditure growth, meanwhile, slowed marginally but remained strong (Q1 2018: +11.3% qoq SAAR; Q4 2017: +11.9% qoq SAAR).
On the external front, export growth eased from a strong 11.3% increase in Q4 (previously reported: +9.9% qoq SAAR) to 7.2% in Q1. Imports expanded at a stronger pace, increasing 23.1%, which was up from the prior quarter’s 6.1% increase (previously reported: +2.5% qoq SAAR).
On an annual basis, economic growth picked up considerable speed and reached 3.9%, up markedly from the prior quarter’s 3.0%.
Israel GDP Forecast
The Bank of Israel expects GDP growth to reach 3.4% in 2018 and 3.5% in 2019. Met the why particular Consensus Forecast panelists expect GDP growth of 3.4% in 2018, which is unchanged from last month’s forecast. For 2019, our panelists expect the economy to expand 3.3%.
Israel - GDP Data
|Economic Growth (GDP, annual variation in %)||4.2||3.5||2.6||4.0||3.3|
5 years of economic forecasts for more than 30 economic indicators.
Israel GDP Chart
Source: Central Bureau of Statistics
|Bond Yield||2.23||-1.69 %||Aug 07|
|Exchange Rate||3.70||-0.37 %||Aug 07|
|Stock Market||1,431||-0.91 %||Aug 07|
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July 29, 2018
Israel’s economy picked up pace at the end of the second quarter, according to the Bank of Israel’s Composite State of the Economy Index, growing 0.35% over the previous month in June.
Israel: Israeli manufacturing PMI returns to expansionary territory at the close of the second quarter
July 18, 2018
The Purchasing Managers’ Index (PMI)—produced by Bank Hapoalim in conjunction with the Israeli Purchasing & Logistics Managers Association (IPLMA)—jumped to 52.6 points in June from 49.6 points in May.
July 15, 2018
Consumer prices in Israel rose marginally in June over the prior month, increasing 0.1%.
July 12, 2018
Exports dropped 4.2% over a year ago in June, a softer contraction compared to May’s revised 5.1% decrease (previously reported: -8.3% year-on-year).
July 11, 2018
Sentiment levels dropped in June, according to data released by the Central Bureau of Statistics (CBS).