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Israel’s 2015 first quarter growth revised downward

The Central Bureau of Statistics said that first quarter growth reflects an increase in spending on private consumption
21.06.15 / 10:23
Israel’s 2015 first quarter growth revised downward
21.06.15
Israel’s 2015 first quarter growth revised downward

On 16 June the Central Bureau of Statistics published its second reading for the first quarter of the year, showing annualized growth of 2.1%, compared with its previous 2.5% estimate.

 

GDP was up 6.5% in the fourth quarter of 2014 and only 0.8% in the third quarter.

 

The Central Bureau of Statistics said that first quarter growth reflects an increase in spending on private consumption, combined with decreases in exports of goods and services and investments in fixed assets.

 

A downward revision to first-quarter GDP to an annualized 2.1% from an initial 2.5% puts some pressure on the central bank to act, especially since exports - some 40% of economic activity - fell 6.2%, pressured by a stronger shekel. 

 

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