Israel's growth revised higher to 3.7% annualised in first quarter
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General view of Ashdod port, Israel October 23, 2023. REUTERS/Ammar Awad/File Photo
JERUSALEM (Reuters) -Israel's economy grew more than previously estimated in the first quarter, boosted by exports and investment, the Central Bureau of Statistics said on Sunday, as the war in Gaza against Palestinian Islamist group Hamas continued to impact growth.
In the bureau's second estimate, gross domestic product grew an annualised 3.7% in the first quarter from the prior three months, higher than an initial expectation of 3.4% and up from an upwardly revised 2.0% in the fourth quarter of 2024. Per capita GDP was 2.4%.
The data follow figures also issued on Sunday showing the annual inflation rate easing to 3.1% in May from 3.6% in April.
In the first quarter, the economy benefited from higher exports, investment and public spending, offset partially by lower consumer spending.
(Reporting by Steven ScheerEditing by Bernadette Baum)
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