Posted 2/19/2024, 2:05:12 PM
Israeli Economy Plunged in Q4 Due to Hamas War Before Stabilizing Gradually
- Israel's economy contracted by 19.4% annualized in Q4 2023, worse than expected, due to the war with Hamas
- The conflict paralyzed businesses, forced evacuations, and called up military reservists
- Israel's GDP still grew 2% in 2023, matching forecasts, but the war disrupted the economy
- Unprecedented measures by the central bank contained market fallout from the war
- Signs of economic stabilization have emerged, but recovery remains gradual
