January 2014 | Macro economic trends
14 January 2014

After 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 catches up to its previous 2011-2012 higher numbers. According to the GeoStat primary estimations, the average growth rate of the previous three months (November, December 2013, and January 2014) is approximately 8.1% (see Chart 1).

Do the high numbers of growth translate into stable growth in the future?

One of the corner points 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 November 2013 the overall CCI started deteriorating significantly (see Chart 2).