Israel’s Growth Slows Much More Than Expected as War Drags On
- The Israeli economy grew 1.2% annualized in the second quarter
- Analysts in a Bloomberg survey expected the figure to be 5.9%
Carmel market in Tel Aviv.
Photographer: Kobi Wolf/BloombergThis article is for subscribers only.
Israel’s economic growth slowed substantially more than expected over the second quarter, as the war against Hamas and tensions with Hezbollah put increasing financial strain on the country.
Gross domestic product rose by an annualized 1.2% quarter-on-quarter in seasonally adjusted terms, according to preliminary figures published by Israel’s Central Bureau of Statistics on Sunday. Economists had expected growth of 5.9%, according to the median estimate in a Bloomberg survey. The lowest of the eight forecasts was 2.3%.