Following a weak Q218, a modest improvement expected in Q3

ISRAEL - Report 27 Aug 2018 by Jonathan Katz

Most economic indicators underline soft growth in Q218, but some modest acceleration is expected in Q3. Despite the BoI criticism, fiscal credibility is expected to be maintained and fiscal adjustments likely following the 2019 elections. Most factors are pointing to modest inflation: shekel appreciation, lower commodity prices, and a modest increase in housing rentals. We have revised our inflation forecast downward, to 1.0% NTM, with the first rate hike postponed to June 2019.

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