FX.co ★ Israel's GDP Plummets by 21% in Annualized Rate for Q4 2023

Data updated on April 16, 2024, reveals a drastic turn in Israel's economic performance as the country's Gross Domestic Product (GDP) annualized rate for the fourth quarter of 2023 plummeted by a staggering 21%, contrasting sharply with the previous indicator of 2.7% recorded in the same period. The comparison highlights the significant decline in economic activity within a quarter-over-quarter perspective. This sharp negative growth indicates severe economic challenges faced by Israel during the specified quarter. The drastic drop in GDP could have major implications on various sectors of Israel's economy, calling for strategic measures to address the concerning downward trend and restore economic stability.