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| ISET Policy Pulse |
July 2020 |
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ISET ECONOMIC INDEXES AT A GLANCE |
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NOTE FROM ISET DIRECTOR:
WHAT DO ISET’S ECONOMIC INDEXES TELL US ABOUT IMPACTS OF COVID-19?
In the middle of the summer heat, Tbilisi has started to gradually and cautiously open up for social, cultural and economic activities, with significant effort being put into minimizing the negative impacts of COVID-19 while maximizing any opportunity offered by the current circumstances. With this in mind, ISET has decided to dedicate its July Policy Pulse Newsletter to reflect on COVID-19 impacts and tell its audience more about ISET’s eight (8) regular Economic Indexes. Read more |
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KHACHAPURI INDEX, Since May 2011
Inspired by the Big Mac Index of the Economist magazine, the ISET Khachapuri Index tracks inflation by using the most popular Georgian food, the Khachapuri. As opposed to other inflation indices relying on a complex basket of consumer goods the ISET Khachapuri index uses a basket for calculating inflation that includes only those ingredients that are needed to cook one Imeretian khachapuri – flour, cheese, yeast, milk, eggs, and butter. It also includes energy costs – gas and electricity.
Read more
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AGRI REVIEW, Since March 2018
The goal of the publication is to summarize major developments in the agricultural sector and provide brief analysis of related economic indicators. The publication presents the main economic figures of Georgia’s agricultural sector and consists of four sections: (1) Sector at a glance featuring production, employment and FDI in agricultural sector; (2) Price highlights including domestic and international prices; (3) Trade highlights describing share of agricultural exports and imports in total exports and imports as well as export and import diversification indexes; (4) Policy watch providing brief review of major changes in agricultural policy of the country. Read
more
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BUSINESS CONFIDENCE INDEX, Since December 2013
ISET Policy Institute's quarterly Business Confidence Survey (BCI) is conducted in partnership with (Business Information Agency) and the International Chamber of Commerce-Georgia (ICC) since December 2013. The BCI is published on ISET-PI website and in Georgian media. The BCI comprises seven sector-specific sub-indices covering services, retail trade, agriculture, manufacturing, financial services, construction and other sectors. For each sector, confidence is measured through a simple survey instrument targeted at top business executives. Read more |
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REAL ESTATE MARKET LABORATORY, Since May 2014
Real Estate Market Laboratory (REMLAB) quarterly publications provide snapshot of real estate market in Georgia. In addition to sales, supply, price dynamics, REMLAB reports on Real Estate Index (REI), an index which represents real value of the real estate. Whenever we observe real estate prices, the first thing we look at is average price per square meter. However, average price can increase, if the sales of better quality properties (more flats in central districts or renovation, etc.) increases, which does not mean that real estate prices went up generally. We need Real Estate Index to track pure price changes. REI excludes 'QUALITY EFFECT' and observes how the price of given property changes compared to the base. Read more
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GDP FORECAST FOR GEORGIA, Since January 2014
ISET GDP Forecast uses Dynamic Factor Analysis Method to provide a current-quarter and a quarter-ahead real GDP forecasts for the Georgian economy. The forecasts are updated once a month. The depended variable is quarterly GDP (we are using the Geostat rapid estimates of GDP whenever the final updated value of quarterly GDP is not available). The explanatory variables (currently 115) are monthly variables obtained from Geostat and NBG statistics. Read more
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MACROECONOMIC REVIEW, Since December 2013
The Macroeconomic Review of the Georgian economy is a quarterly publication. The publication offers a comprehensive review and economic interpretation of existing data trends, which are based on monthly statistics from GeoStat, NBG, and other sources. Read more |
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CONSUMER CONFIDENCE INDEX, Since June 2012
The ISET Consumer Confidence Index (CCI) Survey follows the standard EU methodology: we randomly sample 300-350 individuals on a monthly basis and question them about the past, current and future financial situation of their families and the country as a whole. Consumer confidence is the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. How confident people feel about stability of their incomes determines their spending activity and therefore serves as one of the key indicators for the overall shape of the economy. Read more |
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ELECTRICITY MARKET REVIEW, Since July 2017
Energy is an essential production factor in every sector of an economy, demand for energy grows in line with the steady increase in overall economic activity. Launched in 2013, Electricity Market Review (EMR) analyses the main trends and key events in Georgia’s energy sector, including electricity, oil, and gas. Believing in the importance of the energy sector for Georgia, ISET Policy Institute provides quarterly energy sector reviews. In these reports we review and analyze the main trends and developments characterizing the energy sector of Georgia and present the main events that had been taking place during the reporting period, which we believe will affect the evolution of the energy sector. Read more
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