ISET-PI has updated its forecast of Georgia’s real GDP growth rate for the third and fourth quarters of 2016. Here are the highlights of this month’s releases:
• The growth forecast for the 3rd quarter of 2016 was revised downward to 3.5% from the 4.8% projected in July.
• The first forecast for the 4th quarter GDP growth has been projected at 4.15%.
• Based on the latest data, the updated annual GDP growth projection is 3.4%. It is noteworthy that the model starts to provide the most accurate annual estimate in September when seven months of data is available on core explanatory variables.