Israeli economy grew at 3.3% in Q4, above forecasts

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The Central Bureau of Statistics also revised its overall GDP growth figure for 2015 up to 2.6%, from its initial estimate of 2.3%.

The Israeli economy grew by 3.3% in the fourth quarter of 2015 on an annualized basis, the Central Bureau of Statistics reports, after growing 2.5% in the third quarter, and 0.4% in the second quarter. The fourth quarter figure was stronger than expected with analysts predicting 2.5% growth.

The Central Bureau of Statistics also revised its overall growth figure for 2015 upwards to 2.6%, from its initial estimate of 2.3%. In the second half of 2015, the Israeli economy grew 2.2% after rising 2.9% in the first half of the year and 2.6% in the second half of 2014.

The rise in GDP in the second half of 2015 is reflected in a 5.2% rise in public consumption and a 3% rise in private consumption. Exports of goods and services rose 2.2% and investments in fixed assets were up 0.9%. Imports of goods and services rose 5.2% in the second half of 2015 and per capita spending on durable consumer products rose 3.9%, on an annualized basis, after falling 11.2% in the first half of 2015 and rising 21.6% in the corresponding period of 2014.

Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2016

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

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Funds picture: thinkstock
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