A tax revenue windfall from a near - doubling of car imports boosted Israel 's gross domestic product by 4 % during Q1 2017 , compared to the 3.9 % predicted by analysts , according to the Central Bureau of Statistics ( CBS ) . The figures marked the third consecutive quarter of growth above 4 % . Moreover, the CBS revised up its fourth-quarter gross domestic product growth estimate to an annualized 4.4% from 4.1%. The CBS report also noted a 10 % annual increase in consumer spending for the quarter , prompting warnings that Israel 's growth had reached its peak .
A tax revenue windfall from a near - doubling of car imports boosted Israel 's gross domestic product by 4 % during Q1 2017 , compared to the 3.9 % predicted by analysts , according to the Central Bureau of Statistics ( CBS ) . The figures marked the third consecutive quarter of growth above 4 % . The CBS report also noted a 10 % annual increase in consumer spending for the quarter , prompting warnings that Israel 's growth had reached its peak .