THE ISRAELI ECONOMY INCREASED ITS GDP BY 15.4 PER CENT IN THE SECOND QUARTER

The Israeli economy rebounded in the second quarter, with GDP growing at an annual rate of 15.4 per cent, higher than the anticipated median of 8.3 per cent in the Bloomberg survey. Prior to the contraction of the economy as a result of military operations with Iran, GDP contracted by 2.2 per cent in the first quarter after being revised. Exports of goods and services grew by 35.2 per cent, government consumption by 19.5 per cent, private consumption by 14.7 per cent and fixed capital formation by 6.3 per cent. Yonie Fanning, the chief strategist at Mizrahi-Tafahot Bank, said that consumer spending would be an important driver of the economic rebound。