TIRANA, Nov 1 /ATA/ – Albania’s economic confidence index slightly increased 0.4 percentage points from the previous month to 113 in October, the Bank of Albania said on Friday.
According to the central bank’s business and consumer survey, the Economic Sentiment Indicator (ESI) stands around 13 points above the historical average.
The improved ESI I in October was mainly driven by the higher confidence in the sector of services, as well as the higher consumer confidence and the increased confidence in the trade sector provided their impact in this regard, though at a lower extent.
On the other hand, confidence indicators in the sectors of industry and construction have declined compared to the previous month.
Industry Confidence Indicator (ICI) fell 2.5 percentage points in October, standing around 10 percentage points above the historical average. The ICI was down this month mainly as businesses reported less optimistic appraisals on current industrial production, particularly concerning the level of new order books. In addition, businesses operating in industry sector are not optimistic regarding the level of industrial production for the future. Expectations on selling prices in the future slightly decreased compared to the previous month.
Construction Confidence Indicator (BCI) contracted by 3.3 percentage points in October. Though, the current BCI’s level stands 23 points above the historical average and close to the historical maximum. The decline of the BCI in October was driven by both of its components: assessments of current construction business and the level of new order books. Expectations for selling prices in the future also edged down.
Services Confidence Indicator (SCI) rose by 4 percentage points in October, determining the overall increase of the indicator. The current level of SCI stands 19 percentage points above the historical average. The SCI increased mainly on the back of more positive balances regarding the current performance of their activity and the current level of the demand. Services-related businesses have revised down the performance of prices in the future.
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