SCI: Iran's Q3 Housing Growth at 6.5%

EghtesadOnline: The Statistical Center of Iran has released its assessment of Iran’s housing and construction sector, announcing that the sector has experienced another season of growth.

News ID: ۷۸۲۲۱۲

08 April 2018

The sector registered a 6.5% expansion during the third quarter of the current fiscal year to Dec. 21, reports HIBNA, the official news portal of Bank Maskan, the agent bank of the housing sector.

This marks the third three-month period in a row, during which the sector registered positive growth rates. If it manages to continue this trend and end the year with a positive growth rate, it will be the first year it does so after five years in recession.

During the first quarter of the current fiscal year that ended on June 21, the housing and construction sector registered a 3.2% expansion, SCI’s data show. During the second quarter ending Sept. 22, 2017, the center put the growth rate at 4.4%, Financial Tribune reported.

“The nine-month economic growth rate, which indicates changes in value added compared with the similar period of last year, was reportedly 4.5%,” the report said.

SCI has put Iran’s growth rate during the first nine months of the current year at 4.4%, whereas it had previously put the growth rate for the first half of the year at 5.6%.