As much as the banking sector in Israel has stood firm in the face of a global financial tsunami (lending practices were tighter than in the US or Western 
Europe), Israel is beginning to feel the weight of the crisis.
In a recent survey for Globes, almost 50% of Israelis claim that they have been hurt by the economic situation, a jump of 15% in just two months.
According to Globes:
There was a significant rise of 8% in respondents reporting purchases that were completely cancelled, a reduction by 7% in goods and services consumption, and a rise of 5% in purchases that were delayed or postponed.
That means, 22% of respondents said that they’ve cancelled planned purchases, up from 14% two months ago. Israelis are definitely tightening their belts in the face of this.
