The Central Bureau of Statistics (CBS) announced that Israeli economy grew by 3.3% in the fourth quarter of 2015 on an annualized basis, after growing 2.5% in the third quarter, and 0.4% in the second quarter.
The CBS noted that the fourth quarter figure was stronger than expected. The CBS also revised its overall growth figure for 2015 upwards to 2.6%, from its initial estimate of 2.3%.
In H2/15, the Israeli economy grew 2.2% after rising 2.9% in H1/15 and 2.6% in H2/14. The rise in the GDP in H2/15 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.