Israel Consumer & Retail Q1 2019
While we still hold a positive consumer outlook for Israel, we do forecast a general slowdown over 2019. Led by theloosening of labour market dynamics and the return of inflation, private consumption growth will drop over 2019. However, solidunderlying fundamentals will mean our medium outlook will remain positive. We continue to hold a positive outlook for the Israeliconsumer over the rest of 2018 and 2019. Wages have been consistently growing at rates above inflation. Consumer spending hasbeen growing at rates faster than real GDP and consumer confidence continues to climb. However, as the economy reaches fullemployment, it must be noted that inflation has been returning and it will affect spending over the medium term.
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