June 2015 GDP Forecast | Cautious consumers save more at shorter maturities

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07 August 2015

ISET-PI has updated its forecasts for Georgia’s real GDP growth rates using an updated forecast model and the April 2015 releases of various economic indicators.

The growth forecast for the second quarter of 2015 was revised slightly downward from 5.1% to 5.0%.

The growth forecast for the third quarter of 2015 has been targeted at 5.3%.

Meanwhile, Geostat updated its GDP growth estimate for April 2015 to 0.9%.

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 the data from March, we expect annual growth in 2015 to be 4.8% in the worst-case or “no growth” scenario, and 5.1% in the best-case or “average long-term growth” scenario.

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