Benoît Huron
Israel’s economy shrank almost 20 per cent in annualised terms in the final quarter of 2023, which was markedly worse than most experts expected. Yves Smith notes that “many of these adverse conditions are likely to stay in place and get worse as the war drags on; others were only starting to take hold in this measurement period. Thus it is reasonable to expect another big decline in the first quarter, even if not necessarily this large.” https://www.ft.com/content/763bb384-a974-4222-996f-8aecfbc32074 #Israel #War #Gaza
Israel’s economy shrank at 20% rate after outbreak of war

GDP plummeted in annualised terms in last three months of 2023 amid conflict with Hamas

Feb 21, 2024 at 9:23amWeb
Show threadBenoît HuronFeb 21, 2024
The negatives omitted from the FT account include Israeli emigration since the outbreak of the conflict, the effect of Houthi attacks on shipping, the fall in tourism and the loss of demand from Gaza. https://www.nakedcapitalism.com/2024/02/israel-4q-gdp-fell-at-20-rate-downward-trajectory-set-to-continue-as-war-drags-on.html
#Israel #War #Gaza
Israel 4Q GDP Fell at 20% Rate; Downward Trajectory Set to Continue as War Drags On and Israel Readies Lebanon Invasion | naked capitalism

The Financial Times report on the fall of Israel’s economy in the fourth quarter was briefly the lead story and was oddly shuffled quickly off the landing page. The article gives a terse but incomplete tally of the factors that contributed to a decline at a 20% rate in the final quarter, which was markedly […]

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