On June 15, 2016, ISET held a press-conference to discuss recent economic indicators of Georgia. In the second quarter of 2016, the two most important...Read more
Energy & Enviroment
On June 15, 2016, ISET held a press-conference to discuss recent economic indicators of Georgia. In the second quarter of 2016, the two most important economic barometers of consumer and business sentiment in Georgia – the Business Confidence Index (BCI) and the Consumer Confidence Index (CCI) continued to steadily improve.
In terms of business sentiment, the second quarter increase in the index was mostly driven by a significant improvement in actual business performance. Q2 results extend the rally in business expectations which was triggered by the appointment of Giorgi Kvirikasvhili as Georgian PM (see, BCI Q1, 2016).
Overall, the BCI gained 10 points (on a [-100/100 scale]) compared to Q1 2016. The expectations of the private sector in Georgia improved and reached 46 index points (up from 38 points in Q1). Business performance over the past three months increased significantly and became positive, rising from -0.7 to 19.7, indicating a rise in production/turnover/sales. The performance of the past three months alongside improved expectations thus maintained the overall BCI at a stable, optimistic level and trend.