Israel: Economy decelerates in 2015
December 31, 2015
In 2015, GDP increased 2.3% according to a preliminary estimate released by the Statistical Office on 31 December. The figure was a deceleration over the 2.6% increase tallied in the previous year and marked the slowest increase since 2009.
Last year, private consumption accelerated from 3.7% growth in 2014 to a 4.5% increase. Conversely, government consumption grew 2.8%, which was worse than the 3.3% increase seen in the previous year. Fixed investment contracted 1.5%, which was up from the 2.0% decrease seen in 2014.
On the external front, exports of goods and services swung from a 1.5% expansion in 2014 to a 3.0% contraction in 2015. Moreover, imports of goods and services dropped 0.2%, which contrasted the 3.0% increase tallied in the previous year and marked a six-year low.
Author: Dirina Mançellari, Senior Economist