Israel's economy grew at only 2.3% in Q3

Growth Photo: Shutterstock
Growth Photo: Shutterstock

This is below forecasts and the Central Bureau of Statistics also revised its first and second quarter estimates downwards.

Israel's GDP growth grew 2.3% in the third quarter of 2018, at an annualized rate, the Central Bureau of statistics has reported in its first estimate. This is below the 2.5%-3% forecast by analysts.

To make matters worse the Central Bureau of Statistics has also revised downwards growth estimates for the first and second quarters. The second quarter growth estimate was revised down from 1.8% to 1.2% and the first quarter growth estimate was revised down from 5.1% to 4.6%.

The Bank of Israel forecast for GDP growth in 2018 is 3.7%, although in light of these latest figures that forecast is likely to be lowered.

Published by Globes, Israel business news - en.globes.co.il - on November 18, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Growth Photo: Shutterstock
Growth Photo: Shutterstock
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