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Israel GDP (Q3 2022)

The slowdown in GDP growth in Israel in Q3, to 2.1% q/q annualised, was in line with expectations as private consumption contracted and net trade exerted a drag. We think Israel’s economy will hold up better than other parts of the world over the coming quarters but the recent period of strong growth has come to an end and a phase of below-potential growth is likely to continue throughout 2023.

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