The gross domestic product in Israel expanded an annualized 1 percent in the second quarter of 2019, slowing from a downwardly revised 4.7 percent advance in the previous three-month period and below market expectations of 1.2 percent, a preliminary estimate showed. It was the lowest growth rate since the first quarter of 2017, as both consumer spending (-0.3 percent from 5.4 percent in Q1) and fixed investment (-3.1 percent from 10.2 percent) fell. Meantime, government consumption rose 10 percent, higher than a 0.1 percent gain in the prior period. Also, net foreign demand contributed negatively to growth, as exports slumped 2.8 percent (from 9.9 percent in Q1) while imports climbed 2 percent (from 5.7 percent in Q1). On a quarterly basis, the economy grew 0.3 percent, easing from a 1.2 percent expansion in Q1. GDP Growth Annualized in Israel averaged 3.81 percent from 1995 until 2019, reaching an all time high of 18.10 percent in the second quarter of 1999 and a record low of -4.20 percent in the first quarter of 2001.
GDP Growth Annualized in Israel is expected to be 3.80 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.