Israel's GDP Shrinks by Record 20% During Fourth Quarter

Tuesday, 20 February 2024, 12:32

Amid the Gaza conflict, Israel faced an unexpected economic downturn with the GDP contracting by a record 20% in the fourth quarter. Analysts, who foresaw a contraction of around 10%, were taken aback by the severity of the decline. This significant economic impact raises concerns about the future stability and recovery of Israel's economy.
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Israel's GDP Shrinks by Record 20% During Fourth Quarter

Israel's GDP Contraction

The latest figures reveal that Israel's GDP shrank by 20% during the fourth quarter, a stark contrast to the expected 10% contraction predicted by analysts.

Unforeseen Impact

The unexpected severity of the economic downturn is a cause for concern, highlighting vulnerabilities amidst the ongoing Gaza conflict.

Analysts' Predictions

  • Analysts had forecast a contraction of around 10% prior to the release of the official figures.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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