BCI in the second quarter of 2019 has improved, reaching 27.0 index points, which is 4.4 index points higher than the previous quarter. The highest growth in BCI was observed in retail trade and manufacturing. In the case of retail trade, this advancement in BCI is mostly due to good past performance, while in manufacturing the driver is positive expectations.

BCI in the fourth quarter of 2018 has worsened, dropping to 29.9 index points, which is a 5.5 index point loss over the previous quarter. The BCI drop is based on the worsening of past performance and expectations in many business sectors. Compared to other sectors, manufacturing and agriculture assessed their past performance and expectations the most pessimistically. In contrast, the retail trade sector is the most positive.

The Georgian Business Confidence Index (BCI)* has decreased slightly, reaching 27.0 index points, which is a -2.0 index point loss over the previous quarter. The third-quarter drop in the BCI was mostly driven by the notable decline of the Expectations Index, which judging from the previous quarter's findings, may be explained by private sector realignment with reality rather than by worsened economic conditions.

Key findings The Business Confidence Index (BCI) improves and reaches 40.4 index points. The seasonal factor has been driving a positive outlook. Most firms are optimistic about the next three months. The sales price expectations are outstandingly increased for the retail trade sector.