Israel’s Economy Unexpectedly Shrinks As War On Iran Takes Toll

Israel’s economy slumped in the second quarter as the country’s 12-day war with Iran imposed a total shutdown on many businesses. Gross domestic product dropped 3.5% in annualized, seasonally adjusted terms, Israel’s Central Bureau for Statistics reported on Sunday, lower than the median estimate of 0.2% growth in a Bloomberg survey of six economists.

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