Israel Q1 GDP Growth Revised to 4.8%
Israel's economy grew an annualized 4.8 percent in the first quarter of 2019, slightly below the first estimate of 5.2 percent and compared to a revised 3.8 percent expansion in the previous three-month period. Growth was mainly driven by solid increases in private consumption expenditure (6.6 percent vs 7.3 percent), fixed capital formation (9.8 percent vs 14.5 percent), and government spending (1.1 percent vs -0.1 percent). Meanwhile, net trade contributed negatively to the GDP, as imports jumped 8.3 percent (vs 12.8 percent in Q4) and exports rose at a softer 5.2 percent (vs -5.1 percent in Q4).
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