Shaken by Weak Consumer Demand

The Business Confidence Index decreased slightly and registered 24.5 points in Q1 (previous quarter BCI was 24.9). Decrease in the retail sector business confidence is marginally the highest. This is driven by a sizeable drop in Consumer Confidence. Consumer Confidence Index (CCI) fell sharply since November 2014. The sales price expectations turned from negative to positive in the first quarter of 2015. Insufficient demand remains the most limiting factor for doing business in Georgia.

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BCI Methodology

ISET Policy Institute's quarterly Business Confidence Survey (BCI) is conducted in partnership with BIA (Business Information Agency) and the International Chamber of Commerce-Georgia (ICC) since December 2013. The BCI is published on ISET-PI website and in Georgian media. The BCI comprises seven sector-specific sub-indices covering services, retail trade, agriculture, manufacturing, financial services, construction and other sectors. For each sector, confidence is measured through a simple survey instrument targeted at top business executives.