ISET-PI has updated its forecast for Georgia’s real GDP growth rates using the November 2015 releases of various economic indicators.
We have recently updated the GDP series (the dependent variable in our model), using the revised GDP growth rates available from Geostat.
Based on the November data, the forecast for GDP growth in the fourth quarter of 2015 now stands at 3.4%. This is 0.1 percentage points lower than in the previous vintage of the forecast.
Annual growth for 2015 is still expected to be 2.9%.
According to the second vintage of the forecast for 2016, the growth rate in the first quarter is predicted to be 3.5%. Once again, this is 0.1 percentage points below our previous prediction.