TIRANA, Aug 1 /ATA/ – Albania’s economic confidence index by 0.7 points, in July 2022 as Albanian business and consumers remain optimistic about performance of the national economy, according to the findings of the most recent Business and Consumer Confidence Survey released by the Bank of Albania on Thursday.
According to the Survey, the Economic Sentiment Indicator (ESI) improved in July mainly on the back of the upward confidence in the sectors of construction and services. The increased confidence in industry and consumer confidence provided its impact in this regard, though at a lesser extent. On the other side, confidence in trade provided a negative contribution.
Construction companies showed the highest confidence rate in the economy during the reviewed period. Construction Confidence Indicator (BCI) was up by 2.7 percentage points in July. The current level of BCI stands 21 points above the historical average. The increase in the BCI in July was driven by both the higher assessments of businesses on their current business and the level of new order books. Businesses operating in construction have increased expectations for selling prices in the future.
On the other hand, the Industry Confidence Indicator (ICI) also rose slightly by 0.3 percentage points in July. The more optimistic appraisals of businesses on current industrial production and on the level of new order books mainly drove to the ICI increase. Businesses operating in industry sector appeared optimistic on the increase of industrial production for the future.
Services Confidence Indicator (SCI) increased by 1.7 percentage points in July. Expectations on the demand in the future increased in July. Services-related businesses have revised down the performance of prices in the future.
Trade Confidence Indicator (TCI) dipped by 3.1 percentage points in July, resulting from, the less optimistic appraisals on the current business performance.
Consumer Confidence Indicator (CCI) rose by 0.5 percentage points in July 2024, by reversing the downward trend of the two previous months.
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