The Central Bureau of Statistics (CBS) announced on 16 May that Israel’s economy grew at an annualized rate of 0.8% during Q1/16. According to the CBS this is in an initial estimate for the first quarter in comparison with the fourth quarter of 2015, seasonally adjusted.
This is also a much lower growth rate than the Ministry of Finance forecast for the year as a whole. The Ministry’s forecast stands at 2.8%.
The CBS states that, at annualized rates, private sector gross product fell by 0.4%, private consumption rose 4%, investment in fixed assets rose 7.5%, exports of goods and services fell 12.9%, and public spending fell 1.7% in Q1/16 in comparison with Q4/15.