TIRANA, Oct. 5 /ATA/- According to the survey published by the Bank of Albania (BoA), in the third quarter of 2020, the Economic Complexity Index (ECI) increased by 23%, after reaching its lowest level in the second quarter of this year, affected by the pandemic situation.
The increase in Economic Complexity Index (ECI) has been mainly driven by improved business confidence, especially in the construction and services sectors.
According to the Bank of Albania, “the confidence indicator in the construction sector increased by 23.2% in the third quarter of 2020. The highest level is attributed to the growth of the two formative components of the indicator, where the balance of construction activity and the balance of ordering contracts increased respectively by 34.5% and 11.9%”.
The confidence indicator in the services sector also increased by 22.2%.
“Both component balances marked an increase, respectively business performance increased by 22.4% and demand by 22.0%. There is an upward trend in the financial situation, employment, expectations for the performance of demand and employment in the fourth quarter of 2020,” according to BoA’s survey.
While the Consumer Confidence Indicator (CCI) increased by 3.3% during the third quarter of this year.
“The balance of large purchases increased by 8.2%, and the balance of the general economic situation expected in the country increased by 3.1%, while the balance of revenues and expenditures increased by 1.8%,” BoA reported. //a.i/
