Israeli economic growth slowed in the third quarter to 2.5%

The growth of the Israeli economy in the third quarter of the year slowed more slowly than initial expectations, and the fourth quarter is expected to witness a sharp decline in the growth rate due to the conflict with Hamas, according to data from the Israeli Central Bureau of Statistics.

GDP increased by 2.5% year-on-year in the July-September period, compared with the previous three months, a decline from the previous estimate of 2.8%, in terms of per capita, GDP grew by 0.6%.

Part of the slowdown in the economy’s growth is due to the negative impact of the conflict, and growth is expected to reach around 2% in 2023, after rising to 6.5% in 2022.