Economics
Firing ‘On All Pistons,’ Israel Booms at Fastest Pace Since 2016
- Investment, exports, car imports contribute to economic pickup
- Surprise growth spurt may boost chances of another rate hike
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Israel’s economy expanded at its fastest pace in three years, blowing by analyst forecasts and far exceeding the central bank view of the country’s potential growth.
Gross domestic product rose 5.2% in the first quarter from the previous three months on an annualized basis, the Central Bureau of Statistics said on Thursday. That was better than every estimate in a Bloomberg survey of six economists, whose median was 3.1%. It’s also a jump from an upwardly revised 3.9% gain in October-December.