Israel Q2 GDP +5.1 pct annualised vs +2.7 pct in Q1

JERUSALEM, Aug 18 (Reuters) - Israel's economy grew at an annualised rate of 5.1 percent in the second quarter, well above expectations, boosted by government and consumer spending, the Central Bureau of Statistics said on Sunday. Growth is projected at 3.8 percent this year including natural gas production at a large well off Israel's Mediterranean coast that began at the end of March. Gross domestic product growth was 3.4 percent in 2012. For the first half of 2013, the economy grew 3.4 percent, compared with a 3.5 percent rate in the last six months of 2012 and 3.1 percent in January-June last year. Exports - which account for some 40 percent of Israel's economic activity - rose 1.2 percent in the April-June period for a second straight quarterly rise. Private spending jumped 6.7 percent while government spending grew 8.3 percent. Investment in fixed assets fell 6.3 percent for its fifth straight drop. Second-quarter GDP growth was forecast at 3.6 percent, according to a Reuters poll of economists. First-quarter GDP was revised to growth of 2.7 percent from a 2.9 percent rate. (Reporting by Steven Scheer)