Money

Israel economy shrinks for first time in more than 5 years

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Israel’s economy contracted for the first time in more than five years in the third quarter, as growth was hit by the effects of a war with Islamist militants in Gaza.

Gross domestic product fell 0.4 percent in the July-September period, the Central Bureau of Statistics said on Sunday. It was the first quarterly decline since a 0.2 percent drop in the first three months of 2009, at the outset of the global financial crisis.

Growth for all of 2014 is projected at 2.2 percent, with Israel’s 50-day war in July and August having shaved off about half a percentage point.

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  • Tom Tchikofski

    Geez, I thought they were the chosen one. nothing will happen to them in anyway shape possible. Now that the chosen one are not doing well, America will be cursed.

    Told you! Obama was a Muslim. he would let Israel go alone.

    – The Learned Zio-Turd