Economy

Israel’s GDP contracts nearly 20% in fourth quarter amid Gaza war

0


An Israeli national flag above produce for sale at Carmel Market in Tel Aviv, Israel, on Nov. 7, 2023.

Bloomberg | Bloomberg | Getty Images

Israel’s gross domestic product shrank nearly 20% in the fourth quarter of 2023, according to official figures.

The contraction was significantly larger than expected, as analysts predicted a contraction of around 10%. It reflects the toll of the country’s war against Hamas in Gaza, now entering its fifth month.

The economic data out Monday “pointed primarily to a contraction in private sector consumption and a deep contraction in investment, especially in real estate,” analysts at Goldman Sachs wrote in a research note.

“The deep GDP contraction occurred…



Source cnbc.com

0 0 votes
Article Rating

SolarEdge tumbles on weak first quarter guidance

Previous article

Palo Alto Networks (PANW) earnings Q2 2024

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Economy