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Albania's economic confidence index falls in Q2 – c-bank

Albania's economic confidence index falls in Q2 – c-bank SPAR International

TIRANA (Albania), July 8 (SeeNews) – Albania’s economic confidence indicator decreased by 0.7 percentage points (pp) to 105.8 in the second quarter of 2019, after adding 4.6 pp in the previous quarter, the central bank said on Monday.

Although confidence in the services sector improved, the fall of economic confidence indicator reflected the decline of confidence in the sectors of industry, construction, trade as well as in consumer confidence, the Bank of Albania said in a quarterly business and consumer confidence survey.

The industry confidence indicator fell by 2.3 pp in the second quarter, but the indicator stands around 3.2 pp above its historical average.

The construction confidence indicator decreased by 1.1 pp in the review period. Yet, the indicator remained above its historical average.

The services confidence indicator increased by 2.8 pp in the second quarter.

The trade confidence indicator decreased by 1.3 pp in the second quarter, sliding 5.6 pp below its historical average.

The consumer confidence indicator also fell in the second quarter, by 2.3 pp.

The confidence surveys of businesses and consumers are conducted by the Bank of Albania every three months since 2002. Starting from May 2016, Bank of Albania started conducting the surveys under the European Commission's programme for the Harmonization of the Consumer and Business Confidence Surveys for member and candidate countries of the European Union.