Economic growth slows in second quarter

Jerusalem, 16 August, 2018 (TPS) --

Israel’s GDP growth slowed to 2% on an annualized basis in the second quarter 2018, according to an initial estimate published by the Central Bureau of Statistics Thursday. Following figures of 4.8% growth in the first quarter, the slump was mainly down to a sharp decline in car purchases. Excluding car purchases, first quarter growth would have totaled 3.6% in the first quarter and 3% in the second. The CBS estimate for overall growth for the first half of 2018 was 4%.