More humiliation for the Boycott Jews Movement (BDS). Israel’s economy is going to Pluto. Congratulations to the indomitable Israeli people, who defy logic every day. Am Yisrael Chai!
Firing ‘On All Pistons,’ Israel Booms at Fastest Pace Since 2016,
By: Ivan Levingston: Bloomberg, May 16, 2019,
Israel’s economy expanded at its fastest pace in three years, blowing by analyst forecasts and far exceeding the central bank view of the country’s potential growth.
Gross domestic product rose 5.2% in the first quarter from the previous three months on an annualized basis, the Central Bureau of Statistics said on Thursday. That was better than every estimate in a Bloomberg survey of six economists, whose median was 3.1%. It’s also a jump from an upwardly revised 3.9% gain in October-December.
“The breakdown was very positive, so you’re running on all pistons,” said Leader Capital Markets Ltd. economist Jonathan Katz. “The Bank of Israel will now have to say that in Israel there are signs of growth above potential.”
The surprise spurt could lend momentum to the central bank’s intention to resume interest-rate increases following its first hike since 2011 last November. The shekel strengthened against the dollar and euro after the data release.
The monetary committee’s next policy meeting is on Monday. In April, the central bank’s research department slightly lowered this year’s growth forecast to 3.2%, amid a darkening global outlook. In its assessment, the accelerating expansion Israel has experienced in recent years has already been maxed out.
An important contributor to the positive surprise was an increase in car imports in the first quarter, spurred by a tax change, according to Katz. That was largely responsible for the gap between the overall 5.2% jump and the increase of 3.7% in GDP excluding net taxes on imports, he said.
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.
Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute to our ground-breaking work here.
Make a monthly commitment to support The Geller Report – choose the option that suits you best.