Oil and non-oil declines weigh on Qatar growth outlook: Reuters poll - Reuters:
Growth forecasts for the Gulf state of Qatar were chopped in a quarterly Reuters poll on Wednesday after the government this month published the first quarterly contraction of its economy in years.
Qatar’s gross domestic product (GDP) will grow 2.0% in 2019, 2.4% in 2020 and 2.3% in 2021, the Oct. 8-21 poll of around 25 economists projected. Three months ago, the forecasts were for growth of 2.5% in 2019, 2.9% in 2020 and 3.2% in 2021.
Government data this month showed Qatar’s economy contracted 1.4% in the second quarter from a year earlier, hurt by a drop in the manufacturing and construction sectors.
“The 1.4% year-on-year contraction was weaker than we expected,” James Swanston of Capital Economics said, adding that the weakness stemmed from declines in both oil and non-oil GDP.
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