The gross domestic product of Israel expanded an annualized 2.3 percent in the three months to September of 2018, higher than a second estimate of 2.1 percent and following a downwardly revised 0.6 percent growth in the previous quarter, final estimates showed. Net foreign demand contributed more to growth than initially thought, as exports rebounded more than initially thought (11.7 percent from -1.7 percent in Q2) and imports fell at a faster rate (-5.3 percent from 0.1 percent in Q2). In addition, government expenditure rose 10 percent, recovering from a 4.4 percent fall in Q2 and private consumption advanced 2.3 percent (from -2.5 percent in Q2). On a quarterly basis, the economy advanced 0.6 percent, after a downwardly revised 0.1 percent expansion in the second quarter and more than second estimates of 0.5 percent. GDP Growth Annualized in Israel averaged 3.85 percent from 1995 until 2018, reaching an all time high of 18.10 percent in the second quarter of 1999 and a record low of -4.10 percent in the first quarter of 2001.
GDP Growth Annualized in Israel is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Annualized in Israel to stand at 3.20 in 12 months time. In the long-term, the Israel GDP Growth Annualized is projected to trend around 3.60 percent in 2020, according to our econometric models.