07
August
2015
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%.
17
July
2015
ISET-PI launched the Retail Food Price Index in July 2015. The project is implemented thanks to the cooperation of the largest Georgian retail chains including Carrefour, Goodwill, Fresco, and SPAR. While data from the individual retailers are confidential, the average of prices from all stores can be combined to create a general FPI, as well as FPIs for individual products.
15
July
2015
After the sharp decline in Q2 2015, business confidence (BCI) in Georgia showed signs of rebounding in Q3. In line with expectations, April, May, and June were ex-post not particularly favorable months for Georgian businesses.
11
June
2015
The lari depreciation caused a substantial decrease in USD prices of real estate. Average rental prices of residential property reached their historical minimum in March 2015. Property sellers are trying to compensate for the price decline by offering better, more expensive housing for sale.
08
June
2015
In June of 2015, the average cost of cooking one standard Imeretian Khachapuri fell to 2.85GEL, which is 1% lower month-on-month (compared to May 2015), and 0.8% higher year-on-year (compared to June 2014).
