Soldier killed in Lebanon as IDF pounds Hezbollah; rocket hits Haifa synagogue
JERUSALEM (Reuters) - Israel's economy grew more than expected in the third quarter, bouncing back somewhat from a weak spell since the start of war in Gaza with Palestinian Islamist group Hamas last October and another reason interest rates are unlikely to fall anytime soon.
The Central Bureau of Statistics said in an initial estimate on Sunday that gross domestic product grew by an annualised 3.8% in the July to September period, above a 2.9% consensus in a Reuters poll. On a per capita basis, GDP gained 2.6% in the quarter.
Overall growth was led by gains in consumer spending, which rose 8.6%, a 21.8% jump in investment in fixed assets - especially in residential building - and a 1.7% rise in exports, offsetting a 10.8% drop in government spending.
As a result, GDP of the business sector alone grew 5.4% last quarter.
Second-quarter GDP growth was confirmed at 0.3% annualised.
The war has raged in Gaza since Hamas' Oct. 7, 2023 cross-border attack on southern Israel. The war has since expanded to battling Hezbollah in Lebanon.
Figures issued on Friday showed Israel's inflation rate held steady at 3.5% in September but staying above the government's annual inflation target of 1-3%.
Government officials have largely blamed war-related supply issues for the spike in inflation at a time when inflation is largely easing globally.
The Bank of Israel next decides on rates on Nov. 25.
After cutting its benchmark interest rate in January, the central bank left the rate unchanged at subsequent meetings in February, April, May, July, August and October, citing geopolitical tensions, rising price pressures and looser fiscal policy due to the war.
Israeli central bankers have said that further rate cuts, which have begun in the United States and Europe, are unlikely but warned of rate hikes should inflation remain high.
As a result of the Israeli Strike earlier on the Syrian Ba'ath Party Headquarters in Central Beirut, the Head of Hezbollah’s Media Relations Unit, Mohammed Afif was Eliminated.
For the first time since Israel launched its ground offensive against Hezbollah, the IDF Artillery Corps has crossed the border and is operating inside southern Lebanon.
The United Nations Interim Force in Lebanon said on Sunday that a peacekeeping patrol was fired upon “about 40 times” a day earlier, with the culprit “likely from non-state actor members.”
“A group of individuals,” at least one armed, sought to prevent the patrol from passing in south Lebanon on Saturday, but it continued and was later “fired upon about 40 times from behind, likely from non-state actor members.”
UNIFIL said in a statement, adding that no peacekeepers were injured though “some patrol vehicles had bullet impacts.”
Division 36 decided to move a heavy artillery battery into Lebanese territory.
For the first time since the IDF's withdrawal from Lebanon, an artillery battery was deployed overnight into Sunday morning for combat operations in southern Lebanon, significantly increasing the range of artillery fire into Lebanese territory.
Following the advancement of IDF troops to additional targets in Lebanon and engagements with Hezbollah's second line of defense, Division 36 decided to move a heavy artillery battery into Lebanese territory.
The regular battery, composed of male and female soldiers, is conducting heavy artillery strikes deep into the area, providing operational support for any scenarios encountered by maneuvering forces.
In recent months, fighters from the 282nd Artillery Brigade have been stationed on the northern border, targeting objectives with artillery fire to assist maneuvering forces.
During a Speech earlier to the Knesset; Israeli Prime Minister Benjamin Netanyahu confirmed that during October’s Strike Mission against Iran, an Element of the Iranian Nuclear Program was targeted and destroyed, but that the Program itself has still not yet been Foiled.
