Q2 growth revised downward to just 1.5%

Mutual funds, finance phtoto to go

Apartments sold and rented

The previous second quarter growth estimate was 1.7%.

GDP grew by an annualized 1.5% in the second quarter, following growth of 2.7% in the first quarter and 2.5% in the fourth quarter of 2013, the Central Bureau of Statistics reported today. The second quarter figure is a revision of the original 1.7% estimate.

GDP was up an annualized 2.3% in the first half of the year (2.5% in the previous estimate), following annualized rises of 3.0% and 3.1% in the first and second halves of 2013, respectively.

In annualized figures, private consumption grew 4.3% and public spending by 3.2% in the second quarter, while investments in fixed asset dropped 4.6% and exports of goods and services, excluding startups and diamonds were down 12.2%.

Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2014