A surge in attacks in Israel is raising concerns that the weakening economy could eventually be pushed into recession. REUTERS/Ronen Zvulun
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The deteriorating security situation in Israel and the impact it may have on economic growth has led to the second-biggest surge in credit risk this month among developed nations. Israel's credit-default swaps, contracts insuring the nation's debt against default for five years, have advanced four basis points so far this month, the second-biggest gain after the U.S. among 23 developed countries, to 73 basis points, CMA prices show.Israel's economy retreated during a previous five-year Palestinian uprising that began in September 2000 . The nation's growth domestic product increased just 0.1 percent in 2001 and contracted the same amount the following year, the worst economic performance since Israel's birth, according to the Central Bureau of Statistics.
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