Counting costs. Israel’s economy contracted by 19.4 percent on an annualized basis in the fourth quarter of 2023, the largest decline since early 2020, due to the war in Gaza. Consumer spending, trade and investment plummeted, with private consumption down 26.9 percent, imports 42.4 percent, exports 18.3 percent and investment in residential buildings 67.8 percent. […]
Daily Memo: Israel’s Economy Plunges, China Cuts Mortgage Reference Rate
The war in Gaza has been costlier than expected.
