(Bloomberg) — Israel’s economy suffered a contraction that was among the deepest in history when the war erupted against Hamas, after hostilities paralyzed businesses and prompted evacuations and a record call-up of reservists that upended activity.
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Gross domestic product had a quarterly drop for the first time in two years, slumping a seasonally adjusted, annualized 19.4% in the final three months of last year, according to data released on Monday. The median estimate in a Bloomberg survey of analysts was for a decline of 10.5%.
–With assistance from Joel Rinneby.
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