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

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

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…


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