
Israel's growth revised higher to 3.7% annualised in first quarter
In the bureau's second estimate, gross domestic product grew an annualised 3.7% in the first quarter from the prior three months, higher than an initial expectation of 3.4% and up from an upwardly revised 2.0% in the fourth quarter of 2024. Per capita GDP was 2.4%.
The data follow figures also issued on Sunday showing the annual inflation rate easing to 3.1% in May from 3.6% in April.
In the first quarter, the economy benefited from higher exports, investment and public spending, offset partially by lower consumer spending.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily Mail
an hour ago
- Daily Mail
Revealed: The eye-watering six-figure weekly sum Alexander Isak could pick up if he goes to Saudi Arabia instead of Liverpool
Alexander Isak has been told he can earn a staggering £600,000 a week net if he signs for Al Hilal in Saudi Arabia. Isak has not travelled with Newcastle on their pre-season tour to Asia and, as revealed by Mail Sport on Thursday, he has informed the club's hierarchy he wants to explore a move away from Tyneside. Premier League Liverpool are interested in adding the 25-year-old Sweden international to Arne Slot 's battery of forward options, despite spending £79million on Hugo Ekitike from Eintracht Frankfurt. Newcastle are keen to negotiate a new deal with Isak who has scored 62 goals in 109 appearances since his arrival from Real Sociedad and three years to run on his current contract. But the greatest riches are on offer in the Saudi Pro League and can eclipse what either Liverpool or Newcastle could afford to pay Isak. Al Hilal have made told his advisors they are prepared to strike a deal worth £600,000 a week net. Liverpool, though, are front-runners to sign the forward in a summer of mega-spending for the Reds On a long-term contract it is a life-changing sum of money on the table for the Swede. The complication at the heart of the issue is that Newcastle and Al Hilal are both owned by PIF, Saudi Arabia's sovereign wealth fund.


Reuters
an hour ago
- Reuters
Colombia central bank expected to cut rate after inflation dip: Reuters poll
BOGOTA, July 25 (Reuters) - Colombia's central bank will cut its benchmark interest rate next week, a Reuters poll suggested on Friday, although analysts expect the bank to act cautiously for the rest of the year due to the worsening state of the government's finances. Sixteen of 20 analysts surveyed said the bank would reduce the benchmark interest rate by 25 basis points to 9%, following a sharper-than-expected slowdown in inflation in June. One analyst forecast a 50-basis-point cut, while the remaining three expected the bank to hold the rate steady, as it did in June. Analysts said the decision is unlikely to be unanimous. "Our expectation (of a 25-basis-point cut) is largely explained by the downward surprise in June's inflation and its effect on expectations for the coming months," said investment firm Corfi. Consumer prices rose 0.10% in June, bringing 12-month inflation to 4.82%, below market expectations, though still well above the central bank's long-term target of 3%. Some analysts who expect a pause cited inflation that is likely to remain above the central bank's 3% target through 2025, as well as growing fiscal concerns. Latin America's fourth-largest economy is facing lower tax revenue, high debt and difficulty reducing spending. "Concern over the fiscal issue continues to increase due to both lower government revenue collection and expectations of a higher fiscal deficit," Colombian bank Davivienda said in a note. "It is also important to mention that the economy is not performing poorly in terms of growth." The central bank's meeting will take place a day after the U.S. Federal Reserve meets on July 29-30, when it is expected to hold U.S. rates steady. Meanwhile, analysts raised their year-end expectation for Colombia's benchmark rate to 8.50% from 8.25%. The forecast for the end of 2026 remains unchanged at 7%.


Reuters
an hour ago
- Reuters
Trump: strong dollar sounds good but 'you make a hell of a lot more' with a weaker one
WASHINGTON, July 25 (Reuters) - U.S. President Donald Trump said on Friday he liked a strong dollar but "you make a hell of a lot more money" with a weaker one. "So when we have a strong dollar, one thing happens: It sounds good. But you don't do any tourism. You can't sell tractors, you can't sell trucks, you can't sell anything," Trump said at the White House before leaving on a trip to Scotland. "It is good for inflation, that's about it." The dollar index (.DXY), opens new tab, which measures the greenback's strength against six major currencies, steadied on Friday after hitting two-week lows earlier in the week. It is still down roughly 10% over the six months Trump has been in office. Trump has often complained that dollar strength blunts U.S. export competitiveness and hurts U.S. manufacturing and jobs. Trump told reporters on Friday that manufacturers would be the first to benefit from a falling dollar, citing construction and mining equipment maker Caterpillar (CAT.N), opens new tab, whose shares have risen 16% over the last month. Japan and China fought for weaker currencies for decades and were able to dominate markets over the years, Trump said. "Now it doesn't sound good, but you make a hell of a lot more money with a weaker dollar - not a weak dollar but a weaker dollar - than you do with a strong dollar," he said. At the same time he acknowledged that pushing for a weaker dollar wasn't a good look, saying a strong dollar is good psychologically. "It makes you feel good," he said. "I love strong dollars."