Israel's GDP shrank 20% in Q4 2023 due to war

cnbc.com

Israel's GDP shrank nearly 20% in Q4 2023, larger than the expected 10% contraction, due to the ongoing war with Hamas. Private consumption fell by 26.9%, and fixed investment dropped by nearly 68% as construction halted. The shortage of workers, both Israeli and Palestinian, contributed to the economic decline. The conflict has also impacted trade and investment, with imports declining more than exports.


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