Iran: Q1-3 economic growth at -3.8%

Financial Tribune – Iran’s gross domestic product saw a contraction of -3.8 during the three quarters of the last fiscal year (March 21-Dec. 21, 2018) compared to the corresponding period of the year before, the Statistical Center of Iran’s latest report shows.

Economic growth, excluding oil, stood at -1.9%, the report added.

A sectoral breakdown of growth rates in the report shows only the services sector experienced a growth of 0.6% during the period.

The industrial and agricultural sectors contracted by 7.9% and 2.1% respectively.

SCI’s previous reading of Iran’s economic growth showed GDP during the first half of the year (March 21-Sept. 22) registered a 0.4% rise. Excluding the oil sector, the rate stood at 0.3%.