Israel’s Economic Growth Slows Sharply in 2nd Quarter
Israel’s Central Bureau of Statistics released new data on Sunday revealing a sharp slowdown in economic growth during the second quarter, following a significant rise earlier in the year. According to the figures, Israel’s gross domestic product (GDP) increased by just 1.2% in the second quarter, compared to a much stronger 17.3% rise in the first quarter. On an annual basis, GDP fell by 1.4% compared to the same period last year.
Private consumption in Israel also slowed, with spending increasing by 12% in the second quarter, a marked decrease from the 26.3% growth recorded in the first quarter.
Give the gift of hope
We practice what we preach:
accurate, fearless journalism. But we can't do it alone.
- On the ground in Gaza, Syria, Israel, Egypt, Pakistan, and more
- Our program trained more than 100 journalists
- Calling out fake news and reporting real facts
- On the ground in Gaza
- Covering Israel, Syria, Lebanon
- More than 100 students
- Exposing fake news
Join us. Support The Media Line. Save democracy.
Additionally, imports of goods and services dropped by 11.1% in the second quarter, following a substantial 32.7% rise in the first quarter.
Exports of goods and services, excluding the diamond industry and high-tech startups, also saw a decline, falling by 7.1% after a 10.4% decrease in the first quarter.
