October 16, 2018 / 10:03 AM / a month ago

Israel Q2 GDP unrevised at +1.8 pct growth

JERUSALEM, Oct 16 (Reuters) - Israel’s economy grew an annualised 1.8 percent in the second quarter, unrevised from a prior estimate, with exports rising and consumer spending and investment falling, the Central Bureau of Statistics said in a third estimate.

The bureau on Tuesday also raised its first-quarter gross domestic product growth estimate to 5.2 percent from 5.1 percent.

In the second quarter, exports - which comprise over 30 percent of economic activity - rose 1.7 percent, private consumption fell 2.4 percent and investment in fixed assets slipped 1.8 percent.

The Bank of Israel, which forecasts 3.7 percent growth in 2018, has played down the second-quarter data, saying it does not indicate a change in trend, with most of the decline in growth deriving from fluctuations in vehicle imports. (Reporting by Steven Scheer)

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