TIRANA, Nov 1 /ATA/ The Bank of Albania published the report on the Economic Sentiment Indicator, which marked the level of 110.9 in October, maintaining the same value as in September and 10.9 points above the long-term average.
During this month, the consumer confidence indicator improved, while the confidence indicators of all business activities decreased. The sector that recorded the biggest drop in confidence was industry.
The industry confidence indicator fell by 3.7 percentage points in October, driven by gloomy estimates for current production and for ordering agreements. However, the level of the indicator is 6.6 percentage points above the historical average. Business expectations for prices in this sector are decreasing, while those for production and employment are increasing.
The confidence indicator in construction fell by 1.9 percentage points in October. This indicator is about 15 percentage points above the long-term average. The decline this month was driven by both less optimistic estimates for current construction activity and the level of current orders. Expectations for employment are rising and those for future prices are falling.
The confidence indicator in services fell by 1 percentage point in October. However, the level of this indicator remains in the range of high historical values, about 17.5 percentage points above the long-term average. Both constituent components of the indicator, the current progress of activity and current demand, have recorded slight declines. Business expectations for future prices are falling.
The trade confidence indicator shrank by 2.2 percentage points in October, largely driven by estimates of weaker business performance. In contrast, trading activity businesses expect an increase in orders and business performance in the near future. The current level is about 9.8 percentage points above the historical average. Expectations for future prices have been assessed downward.
The consumer confidence indicator increased by 2.8 percentage points in October. The relatively significant increase in the value of the indicator made its level rise by 2.2 percentage points above the historical average. The consumer confidence indicator was determined by more optimistic expectations about the financial situation and purchases in large current and future amounts. Expectations for the general level of prices and for the level of unemployment in the future have been revised downwards.
/r.e/sm/
