The Israeli economy grew less than expected in the second quarter of 2024, a volatile performance that began since the outbreak of war in the Gaza Strip with Hamas.
The Central Bureau of Statistics said on Sunday that a preliminary estimate showed that the gross domestic product grew by 1.2% on an annual basis in the period from April to June. This is less than a Reuters poll estimate of 4.4% growth.
According to Reuters, GDP per capita declined in the second quarter by 0.4%.
A 12% increase in consumer spending and 8.2% in government spending led overall growth, offsetting an 8.3% decline in exports.
GDP growth in the first quarter was revised upward to 17.3% on an annual basis from a previous estimate of 14.4%, after recovering from a 20.6% contraction in the fourth quarter of 2023.
Follow the latest news on Google News
