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HomeBusiness NewsDefying forecasts, Israel's economic system grew at 6.8% in Q2

Defying forecasts, Israel’s economic system grew at 6.8% in Q2



Israel’s GDP grew 6.8% on an annualized foundation within the second quarter of 2022, the Central Bureau of Statistics studies. The expansion figures are in contradiction to expectations which was forecasting an financial slowdown, after the Israeli economic system contracted 2.7% within the first quarter, based on the latest evaluation.

The Central Bureau of Statistics explains the robust progress within the second quarter as a return to post-Covid routine with recoveries within the tourism, aviation, hospitality, restaurant and transport providers sectors.

Israel’s GDP has grown 7.4%, in contrast with the second quarter of 2021, which is up to now the best progress recorded of any OECD nation, beating Portugal (6.9%), Spain (6.3%), Canada (4.8%), the US (1.6%), and Germany (1.5%).

GDP per capita rose 4.5% on an annualized foundation within the second quarter of the yr and by 4.8% within the first half of the yr. Personal consumption per capita rose by 8% within the second quarter, on an annualized foundation from the primary quarter.

Exports of products and providers rose 13.9% within the second quarter, on an annualized foundation.

Printed by Globes, Israel enterprise information – en.globes.co.il – on August 16, 2022.

© Copyright of Globes Writer Itonut (1983) Ltd., 2022.


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