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Albania's economic confidence index improves in Q3 – c-bank

Albania's economic confidence index improves in Q3 – c-bank SPAR International

TIRANA (Albania), October 7 (SeeNews) – Albania’s economic confidence indicator increased by 3.2 percentage points (pp) to 109.0 in the third quarter of 2019, after dropping 0.7 pp in the previous quarter, the central bank said on Monday.

The improved confidence in industry, services and trade sectors contributed to the upward trend of the economic sentiment indicator in the July-September period, the Bank of Albania said in a quarterly business and consumer confidence survey.

The industry confidence indicator rose by 7.3 pp in the third quarter, 11.4 pp above its historical average.

The services confidence indicator increased by 3.8 pp in the period under review, remaining above its historical average.

The trade confidence indicator increased by 1.5 pp. However, the indicator remained below its historic average, by 3.8 pp.

The construction confidence indicator decreased by 4.6 pp in the review period, standing slightly below its historical average. The consumer confidence indicator also edged down in the third quarter, by 2.8 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.