With the release of the December data, the year of 2014 is now “officially” over. ISET-PI has updated its forecast for Georgia’s real GDP growth rate for the first quarter of 2015; meanwhile, official rapid estimates of both fourth quarter and annual growth rates for 2014 became available from Geostat. Here are the highlights of this month’s releases:
• Geostat’s official rapid growth estimate for the last quarter of 2014 is 1.6%, while annual growth stands at 4.7%
• ISET-PI’s forecast for the first quarter of 2015 stands at 3.6%, which is just 0.1 points below the previous month’s forecast.
• 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 3.2% in the worst-case or “no growth” scenario, and 5.4% in the best-case or “average long term growth” scenario. Download the full report
