Israel's gross domestic product increased by an annualized 2.3% in the third Q

Israel's gross domestic product increased by an annualized 2.3% in the third quarter, the Central Bureau of Statistics published in the first estimate of the national accounts.
This is lower than economists' forecasts for the quarter, ranging from 2.5% to 3%, although this is only a first estimate. However, in the framework of the update, the CBS retroactively lowered the growth figures in previous quarters. The updated figure for economic growth in the second quarter was 1.2% (1.8% according to the previous update) and the figure for the first quarter was 4.6% (5.1% according to the previous update).
The components of growth in the third quarter reinforce the discouraging impression: Imports fell 5% this quarter, and public investment rose by 9.5%. Excluding these two figures, the growth rate was even lower. Business-sector product grew by only 2.1%. Private consumption expenditure, on the other hand, rose moderately by 2.1%, exports grew by only 0.9%, and fixed capital formation decreased by 6.3%.