TIRANA, 9 Jan /ATA/ – The business and consumers’ confidence on the positive performance of the Albanian economy increased in December 2022, according to the findings of the Bank of Albania.
The Economic Sentiment Indicator (ESI) rose by 2.7% to 105.7 points in December, according to the latest Bank of Albania’s Business and Consumer Confidence Survey.
The ESI improved due to the increased confidence across all the business sectors, while construction and services provided the biggest contribution in this regard. In parallel, consumer confidence continued improving in this month as well.
Central Bank said that increase in ESI coincides with the inflation slowdown in recent months.
According to Central Bank, the Industry Confidence Indicator (ICI) increased by about 2.9 percentage points compared to the previous month, driven by the improvement in all its component indicators, particularly the increased balance on current production and order books.
In addition, businesses operating in industry sector increased their production expectations for the future, while decreasing their employment and selling price expectations.
Construction Confidence Indicator (BCI) posted the second significant improvement running by 5.5 percentage points in December 2022, due to better appraisals about construction and order books in the future.
Trade Confidence Indicator (TCI) maintained an upward trend by about 1.8 percentage points this month. The indicator was affected by more positive assessments on the current business performance and employment in the future. Expectations for prices in the future were revised downward.
Consumer Confidence Indicator (CCI) improved by about 1.8 percentage points in December, though remaining below the long-term average.
/u.sh/
