ISET PI has updated the forecasts for Georgia’s real GDP growth rates using the November 2013 releases of various economic indicators.
The growth forecast for the 4th quarter of 2013 has been revised downward from 5.2%to 4.9%. The forecast for the first quarter of 2014 has also been reduced from 6.5% to 5.7%.
Given the Geostat data for the first three quarters and the ISET-PI forecast for the 4th quarter, the annual growth rate for 2013 is projected to be 2.6%.
Given these developments, we expect the annual growth rate in 2014 to be 3.6% at the very least and more likely somewhere around 5.8%.