A downward GDP growth surprise is likely in Q218

ISRAEL - Report 13 Aug 2018 by Jonathan Katz

Wage growth appears to have moderated in recent months, which is supportive of modest inflation. Israeli institutions continue to purchase FX but at a modest pace, less than the CA surplus and FDI. The fiscal deficit is likely to surpass the fiscal target of 2.9% of GDP this year.

Zoom in: Q218 GDP growth could surprise on the downside, supporting a weaker shekel and lower rates.

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