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Israel News: How Israel’s Economic Growth Exceeded Expectations In Second Quarter Of 2016

Poster: STANCOBRIDGE | Date: 1:35am, 27th Sep 2016. | Views: 270 | 1 Replies
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STANCOBRIDGE. Jalingo, Taraba
1:35am, 27th Sep 2016.


Israel’s economic development in the second
quarter of 2016 exceeded expectations and
was set at four percent, Israel’s Central
Bureau of Statistics (CBS) said in a report
Sunday.

CBS projections released in August had
initially projected a 3.7 percent growth in the
second-quarter.

The data showed that private sector
productivity increased by an annualized 2.3
percent during the first half of 2016, an
increase of 0.1 percent compared to previous
projections, and an increase of 1.9 percent
compared with the sector’s performance in
the first half of 2016.

Private consumption was up 10 percent in the
second quarter, growing by an annualized 5.1
percent during the first six months of 2016.

Household expenditure on durable goods,
such as furniture, appliances and cars,
showed a sharp rise of 21.2 percent in the
first half of 2016.

Private consumption has so far proven to be
the economy’s main growth engine in 2016.

Exports of goods and services, excluding
diamonds and startup exits, were up an
annualized 1.4 percent, CBS data showed.

By: JNS.org
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