Israel’s Economy Rebounds Sharply From Slump Caused by War
- First-quarter GDP grew over 14% in seasonally-adjusted terms
- Economic momentum still hinges on course of war against Hamas
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Israel’s economy rebounded at a pace seen only after the coronavirus pandemic, as investment and consumption powered an upswing that partly offset the shock of more than seven months of war.
Gross domestic product jumped an annualized 14.1% during the first quarter in seasonally-adjusted terms, slightly less than forecast, after slumping a downwardly revised 21.7% during the prior three months. GDP grew at a quarterly rate of 3.3%, according to preliminary figures published on Thursday.