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). GDP Growth Annualized in Israel averaged 3.86 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 -4.10 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.