J.P. Morgan has cut Israel's growth forecast for 2024 and 2025 due to a recent downshift in activity data and new downside risks to global growth. The report mentions that Israel's growth data has been disappointing and that the economy has been weighed down by supply-side constraints. Despite the gloomy forecast, J.P. Morgan acknowledges that some of the data could be distorted and highlights positive developments in Israel's job market. The report also mentions that the implications of the US elections could have a negative impact on global growth and keep Israel's growth profile cautious.