Israel faces major economic crisis – JPMorgan ...News

The economy may shrink more than 10% amid the conflict with Hamas JPMorgan has sharply lowered its fourth quarter economic forecast for Israel. According to a research note made public on Friday, the country’s gross domestic product (GDP) may shrink 11% from the previous three months amid the escalation of hostilities with the Palestinian armed group Hamas. Earlier this month, the bank forecast a 1.5% downturn, but the initial projections were deemed “too optimistic,” analysts suggested. “Gauging the impact of the war on Israel’s economy remains difficult, both due to still-very high uncertainty about the scale an

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