ISET-PI has updated its forecasts for Georgia’s real GDP growth rates using August 2014 releases of various economic indicators.
• Based on the data from August, the fifth update of the Q3 growth forecast was yet again revised downward from 3.7% to 2.2%.
• The second update of the growth forecast for the last quarter of 2014 was also revised from 1.7% down to 0.4%.
• Meanwhile, Geostat has released the “rapid estimates” of monthly growth rate for August 2014. The August estimate is still a hefty 5.2%, although this data is preliminary and is set to be further revised in the future.
• In the beginning of 2014, we started to forecast the annual growth rate for 2014 (see our January and February publications for a note on the methodology). Based on the forecasts available for each quarter, we predict that GDP growth in Georgia in 2014 will be 3.5%. This forecast represents a downgrade from our earlier prediction of 4.3% annual growth. The downward revision carries through, even if we use a slightly different methodology to forecast annual growth. Download the full report
Predicted Growth Rates Continue to Fall - October 2014
- Details
Our Partners
