FX.co ★ Israel's GDP Annualized Plummets by 21% in Fourth Quarter of 2023

Israel is facing a sudden and steep decline in its Gross Domestic Product (GDP) annualized rate, dropping by a significant 21% in the fourth quarter of 2023. This economic downturn marks a stark contrast from the previous period's growth rate of 2.7%. The latest data, updated on April 16, 2024, paints a worrying picture of the country's economic performance.

The comparison period, focusing on a quarter-over-quarter analysis, reveals the drastic change in Israel's economic landscape within a short span of time. With such a sharp decline in the GDP annualized rate, policymakers, businesses, and individuals are likely to closely monitor the situation and consider potential strategies to address the challenges ahead. As Israel navigates through these economic difficulties, attention will be on efforts to stabilize and revive the economy for sustainable growth in the future.