Israel-Gaza War, Economy

Bank of Israel: War's Effect on Economy Moderating in November

The Bank of Israel reported that its Composite State of the Economy Index showed that the negative effects of the war on the economy had moderated in November, its second month.

The stock market did tumble in October due to the war, but is now moderating and even showing positive trends. (Photo: Andy.LIU/Shutterstock)

The Bank of Israel reports that according to its Composite State of the Economy Index, Israel's numbers have improved from a -1.81 drop in October to -0.71 - about the same number as in September (-0.64).

Moreover, there are a number of signs of moderate growth such as goods exports w/o agriculture (4.5 compared to -13.2 in October), credit card purchases (8.6 compared to -14.6), and electricity production (0.9 compared to -4.5).

Calcalist also reports that alongside the TA-35's moderate increase, sectors such as oil and gas, technology, and banks did well, even if not as well as countries not at war.

Inflation is also back to 3.3%, close to the 1-3% range the Bank of Israel prefers, as the US Fed also signalled its willingness to stop tightening and start loosening interest rates, which will be good news for companies seeking to borrow money on easier terms.

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