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Israel's Economy Beats Expectations on Consumer Spending

  • Fourth-quarter growth 3.1%; third quarter revised upward
  • Expansion projected to slow in 2019 for third straight year
People walk through a market in Jerusalem. 

People walk through a market in Jerusalem. 

Photographer: Spencer Platt/Getty Images Europe
Updated on

Israel’s economy expanded in late 2018 at its fastest pace since the first quarter of the year on a rebound in consumer spending, beating economists’ estimates.

Gross domestic product grew 3.1 percent in the fourth quarter from the previous three months, on an annualized basis, the Central Bureau of Statistics said in a release. That compares with 2.4 percent expansion in July-September and a median estimate of 1.9 percent in a Bloomberg survey of economists.