The Central Bureau of Statistics studies unfavourable GDP per capita development of 0.4% within the second quarter, on an annualized foundation.
Israel’s financial system grew by 1.2% within the second quarter, on an annualized basi. This provides unfavourable GDP per capita development of 0.4% on an annualized foundation, when adjusted for inhabitants development.
Non-public consumption, which rose by 12% on an annualized foundation and a couple of.9% within the second quarter led the expansion and has been rising for the reason that begin of the yr, after falling sharply in the course of the fourth quarter of 2023, at the beginning of the conflict.
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The rise in GDP stemmed from authorities spending, which rose by 8.2% within the second quarter, whereas there was a 1.9% fall in enterprise manufacturing. The figures point out a moderation in consumption within the Israeli financial system after the ‘rebound’ within the first quarter, when GDP development was 14.1% on an annualized foundation.
Israel’s financial system grew by 2% in 2023, reflecting unfavourable GDP per capita development of 0.1%, due to inhabitants development final yr. This follows GDP development of 6.5% in 2022. Aside from 2020 when the Covid pandemic hit, and Israel’s financial system contracted by 2.5%, the final time the financial system contracted was in 2009, following the worldwide monetary disaster.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on August 18, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
Financial contraction credit score: Shutterstock
