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TBC Research: manufacturing, transport and storage, construction, and trade sectors increased the most

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BM.GE
06.01.20 15:36
672
TBC Research published weekly bulletin. As of TBC Research, GDP grew by 6.4% YoY in November 2019, according to the Geostat’s rapid estimates.

Turnover of the VAT payers, a measure used in the estimations, reached GEL 7.5bn (+19.6% YoY) in November. Manufacturing, transport and storage, construction, and trade sectors increased the most.

In December 2019, the YoY inflation reached 7.0%, unchanged from the previous month. Food and non-alcoholic beverages prices grew by 12.3% since December 2018 contributing to the annual inflation with 3.78pp, and alcoholic beverages and tobacco gained 15.6% YoY, adding another 1.03pp to the annual CPI. Prices also went up for almost all other categories, except clothing and footwear (-0.1%) and communication services (-0.1%).

Interest rates on money and government securities stabilized in December 2019. The yield on 5-year bond went down to 9.42% (-0.04pp MoM), for 2-year bond it reached 9.37% (+0.09pp MOM), and for 1-year bond the yield stood at 9.17% (+0.10pp MoM), while 1-day TIBR rate was up to 8.86% (+0.27pp MoM). Interest rates picked up sharply since August 2019 in response to the higher monetary policy rate.