Israel economy shrank 3.8% in first quarter amid Iran war
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A city skyline with apartment blocks and office buildings under construction, in Tel Aviv, Israel, April 22, 2026. REUTERS/Florion Goga
JERUSALEM, July 16 (Reuters) - Israel's economy shrank an annualised 3.8% in the first quarter, the Central Bureau of Statistics said on Thursday, in its third estimate in which growth was hurt by Israel's war with Iran that ended with a ceasefire in April.
The contraction was unrevised from a prior estimate a month ago.
The economy was hurt by declines in consumer and government spending and exports, which were offset partly by a rise in investment in fixed assets.
Growth is expected to have bounced back in the second quarter, with forecasts that the economy would grow about 4% in 2026.
(Reporting by Steven Scheer, Editing by Louise Heavens)
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