Israel's GDP grew 2.1% on an annualized basis in the third quarter of 2022, the Central Bureau of Statistics reports. This was above the analysts' expectations with "Bloomberg" reporting that the average prediction for growth in the third quarter by analysts was 1.6%.
Israel's economy grew 5.8% over the 12 months ending September 2022 and only needs to grow by a small amount in the fourth quarter to beat the Bank of Israel's forecast of 6% GDP growth in 2022.
Israel has the highest GDP growth of 12 reference countries in the OECD with 5.8%, compared with 1.8% in the US, 1.1% in Germany, 3% in South Korea and 3.1% in Sweden. Only Portugal comes close to Israel with annual GDP growth of 4.9% over the past 12 months, Globes reports.
