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WAR HURTS US ALL, GIVE PEACE A CHANCE
War causes Israel’s economy to shrink by nearly 20%. Israel’s GDP contracted by 19.4% on an annualized basis in the final quarter of 2023, far more than forecast, as the country’s economy buckled following Hamas’s Oct. 7 attack and its ensuing war in Gaza. Companies were left without 300,000 reservists, who were conscripted into the military, ...
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while restrictions on Palestinians entering Israel from the West Bank led to labor shortages in sectors like construction. Consumer spending took a nosedive in Q4, down 27% from the prior quarter, while government spending surged 88%.
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S: Morning Brew