Gaza's GDP contracts 86 pct amid Israeli attacks

Gaza's gross domestic product (GDP) has contracted by 86 percent year on year in the first three months of 2024 amid intensifying Israeli attacks, according to data released by Palestinian Central Bureau of Statistics (PCBS) on Thursday.

The PCBS statement shows that the GDP of Palestine in the first quarter of 2024 declined by 35 percent year on year, while that of the Gaza Strip sharply shrank by 86 percent due to ongoing Israeli attacks, indicating that the local economic system has collapsed.

The West Bank also saw a year-on-year contraction by 25 percent.

Palestine's GDP per capita was 491 U.S. dollars in the first three months of 2024, down 36 percent compared to the same period of last year, with that of the Gaza Strip decreased by 86 percent.

Gaza's GDP contracts 86 pct amid Israeli attacks

Gaza's GDP contracts 86 pct amid Israeli attacks

European stocks ended mixed on Wednesday, with London and Paris posting modest gains while Frankfurt edged slightly lower.

The UK's FTSE 100 index rose 0.13 percent to close at 10,505.01 points. France's CAC 40 index gained 0.43 percent to finish at 8,207.89 points. Germany's DAX index dipped 0.03 percent to end the session at 25,177.80 points.

European stocks close mixed