TIRANA, Aug 13 /ATA/ – Private consumption in Albania rose 1.1% year-on-year in the first quarter of 2020, according to data from the Bank of Albania.
According to central bank, the 1.1% growth in private consumption gave a positive contribution by 0.9% to the aggregate demand (money in circulation).
Indirect data show that private consumption fell in March amid the measures to curb the spread of the COVID-19 pandemic in the country.
Consumers reduced spending and cost for services and the purchase of goods for long-term use. On the other hand, consumer spending on short-term goods continued to increase in the first three months of this year, giving a positive contribution to total household consumption for the second quarter, the Bank of Albania said in its 3-month monetary policy report on Thursday.
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