Economy, Business And Markets

Iran Housing Uptrend Continues

Housing Uptrend ContinuesHousing Uptrend Continues

Iran's housing and construction sector registered a fourth consecutive positive growth rate during the quarter to June 21, the latest figures disclosed by the Central Bank of Iran show.
According to a report published on the monetary regulator's website, the key sector registered a small growth rate of 0.1% this spring in what many believe could be its last such growth in the foreseeable future.
Even as prospects are not very bright, the tiny growth registered during the period is actually a vast improvement compared with the similar period of last year when the sector had contracted by 3.5% when it was still mired in its longest-running recession in recent memory, which lasted for more than five years.
But after the final contraction last spring, the sector registered consecutive growths of 3.1%, 1.4% and 2% in the next three quarters. Overall, the sector's growth was equal to 1.2% during the whole of the previous fiscal year that ended on March 20, 2018.


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