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TIRANA (Albania), July 9 (SeeNews) – Albania’s economic confidence indicator decreased by 9.9 percentage points (pp) to 106.6 points in the second quarter of 2018, after going up by 3.7 percentage points in the previous quarter, the country's central bank said on Monday.
The indicator's dynamics reflected a decline in both business confidence and consumer confidence. However, the economic confidence level continues to be above its long-term average, the Bank of Albania said in its quarterly business and consumer confidence survey.
The four indicators of the business confidence - industry, construction, services and trade - decreased in the second quarter.
The industry confidence indicator fell by 3.7 pp in the second quarter. The indicator stands around 6.2 pp above its historical average, despite falling for a second successive quarter.
The construction confidence indicator continued its downward trend during the second quarter, and was 1.9 pp lower than in the previous quarter, while the services confidence indicator fell by 8.9 pp.
The trade confidence indicator also fell, by 3.3 pp, in the second quarter, but remained 2.2 pp above its historical average.
The consumer confidence indicator too continued its decline during the second quarter, falling by 1.8 pp.
The confidence surveys of businesses and consumers are conducted by the Bank of Albania every three months, starting from 2002.
Starting from May 2016, the Bank of Albania started the organisation of these surveys under the EC programme for the Harmonization of the Consumer and Business Confidence Surveys for member and candidate countries of the European Union.