A public view shows the Israeli city of Tel Aviv, on August 12, 2024, amid regional tensions during the war between Israel and the Palestinian Hamas movement in the Gaza Strip.
Gil Cohen-magen | Afp | Getty Images
Israel’s economy grew more than expected in the third quarter of 2024, recovering from a weak situation since the war in Gaza with the Palestinian Islamist group Hamas last October.
The Central Bureau of Statistics said in its preliminary estimate on Sunday that gross domestic product rose 3.8% annually in the July to September period, above the 2.9% consensus in a Reuters poll. On a per capita basis, GDP gained 2.6% in the quarter.
Overall growth was led by gains in consumer spending, which rose 8.6%, a 21.8% increase in investment in fixed assets and a 1.7% rise in exports, offsetting a 10.8% drop in government spending.
Second quarter GDP growth was confirmed at 0.3% annual.
Fighting has raged in Gaza since Hamas’ October 7, 2023 cross-border attack in southern Israel. The war began to develop against Hezbollah in Lebanon.
