ISET PI has updated the forecasts for Georgia’s real GDP growth rates using the January 2014 releases of various economic indicators.
• The growth forecast for the 1st quarter of 2014 has been revised downward from 3.6% to 0.5%.
• The growth forecast for the 2nd quarter of 2014 has been targeted at low 1.6%.
• Meanwhile, Geostat has updated GDP growth estimate for January 2015 and similarly to our forecast it stand at 0.5%.
• From the beginning of last year, we started drawing conclusions about the annual growth rate for the ongoing year (see our January 2014 and February 2014 publications for a note on methodology). Based on this month’s data, we expect annual growth in 2015 to be 0.7% in the worst-case or “no growth” scenario, and 1.8% in the best-case or “average long term growth” scenario.
