After the reaching negative growth in June 2013 the y-o-y growth of real GDP started to improve slowly and already in November, 2013 the growth rate catch up its previous 2011-2012 higher numbers. According to the GeoStat primary estimations, average growth rate of previous three month (November, December 2013 and January 2014) is approximately 8.1% (see Chart 1).
Does the high numbers of growth translate into stable growth in the future?
One of the corner point of the higher growth is how fast it will trickle down to society. According to the Consumer Confidence Index (CCI), worked out by ISET-PI, despite the higher growth started from the November, 2013 the overall CCI started deteriorating significantly (see Chart 2). Download the full report
