Israel's gross domestic product rose less than expected in the second half of 2018, increasing by 2.2%, the Central Bureau of Statistics reported Sunday.
The 2.2% growth rate for the second semester is a drop of 1.2 percentage points in comparison to the first half of 2018, which saw growth of 3.4%.
When compared to the second half of 2017, which saw growth of 4.3%, growth in H2 2018 was down by nearly half.
CBS figures point to very low growth in the business sector, which is considered an engine for overall economic growth, while quality of life remained steady.
However, per capita consumption increased only by 2.1% in the second half of 2018, compared to an increase of 4.1% in the first half of the year.
Per capita expenditure on durable goods dropped by 17%, after rising 12.9% in the first half of 2018. New car purchases plummeted by 35.2% per person. Home electronics purchases dropped 1.7% per capita, continuing a decline of 2.8% seen in the first half of 2018.
Per capita expenditures on clothing and shoes rose 2.7% in the second half of 2018.
Exports of goods and services (excluding diamonds and high-tech) rose by only 0.6% in the second semester. Imports of goods and services dropped by 1%.
Investment in home construction was also down by 3% in the second semester, a more moderate decline than the 11.1% drop seen in the first half of 2018.
