Israel posts 6.8% annualized second quarter growth

• Author: Oren Dori
• Published date: 18 September 2022
• Publication title: Globes (Rishon LeZion, Israel)

In an international comparison with thirteen advanced countries attached to the Central Bureau of Statistics' release, Israel has the highest economic growth in comparison with the corresponding quarter of 2021. In that period, Israel's GDP jumped 7.4%, which compares with 6.2% in Austria, 5.4% in the Netherlands, 4.1% in Sweden, 3% in South Korea, and just 1.7% in Germany and the US

By way of explanation of the positive figures, the Central Bureau of Statistics cites "the return to routine in the second quarter, which led to the rise in GDP, with the hospitality and air travel services in the private consumption category, and incoming tourism in the exports category, contributing significantly to the rise in GDP in this quarter."

Another possible explanation is inflation. Price rises across the board, from food to energy, did not make Israelis...