September 25, 2021, 7:53

    Israel Q2 GDP revised up to +16.6% Q/Q as economy rebounds from COVID

    Israel Q2 GDP revised up to +16.6% Q/Q as economy rebounds from COVID

    JERUSALEM, Sept 14 (Reuters) – Israel's economy grew faster than previously estimated in the second quarter, bouncing back strongly after most COVID-19 related restrictions were lifted.

    Gross domestic product grew 16.6% at an annual rate from the prior three quarters, up from a preliminary estimate of 15.4% growth, the Central Bureau of Statistics said on Tuesday.

    First-quarter GDP was unrevised at a 1.4% contraction. COVID restrictions started to ease towards the end of March.

    Growth in the April-June period was driven by a 39.2% jump in consumer spending, a 19.8% gain in exports and a 13.2% increase in investment in fixed assets — numbers that were revised higher from initial estimates a month ago.

    Reporting by Steven Scheer
    Editing by Ari Rabinovitch


    Related posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    We use cookies in order to give you the best possible experience on our website. By continuing to use this site, you agree to our use of cookies. You can find a detailed description in our Privacy Policy.
    Privacy Policy