Israel's economy grew faster than previously estimated in the second quarter, bouncing back strongly after most COVID-19 related restrictions were lifted, Trend reports with reference to Reuters.
Gross domestic product grew 16.6% at an annual rate from the prior three quarters, up from a preliminary estimate of 15.4% growth, the Central Bureau of Statistics said on Tuesday.
First-quarter GDP was unrevised at a 1.4% contraction. COVID restrictions started to ease towards the end of March.
Growth in the April-June period was driven by a 39.2% jump in consumer spending, a 19.8% gain in exports and a 13.2% increase in investment in fixed assets -- numbers that were revised higher from initial estimates a month ago.