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Israel’s GDP up at 6.8% Rate in Second Quarter

September 19, 2022

by: JNS

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Shopping for groceries at the Rami Levy supermarket

Monday, 19 September 2022 | The Israeli economy, as measured by GDP [gross domestic product], grew at a healthy rate of 6.8% on an annualized basis in the second quarter of 2022, the Central Bureau of Statistics (CBS) said on Sunday.

That followed a 2.7% drop in GDP year on year in the first quarter.

The Israeli economy has grown faster since the second quarter of 2021 than any other OECD member county that has reported results to date.

During that 12-month span, Israel’s GDP increased by 7.4%, compared to 7.1% in Portugal, 6.3% in Spain, 6.2% in Austria, 5.4% in the Netherlands, 4.1% in Sweden, 3% in South Korea and barely 1.7% in Germany and the United States.

“The return to routine in the second quarter led to the rise in GDP,” said the CBS, adding that hospitality and air-travel services, as well as tourism from other countries, contributed to the rise in GDP in the April–June period.

Posted on September 19, 2022

Source: (This article was originally published by the Jewish News Agency on September 18, 2022. Time-related language has been modified to reflect our publication today. See original article at this link.)

Photo Credit: Yossi Aloni/Flash90/jns.org

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