confidence-indicator-business – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Tue, 02 Apr 2024 17:48:39 +0000 en-US hourly 1 BoA: Confidence of business and citizens in economy increases https://en.ata.gov.al/2024/04/02/boa-confidence-of-business-and-citizens-in-economy-increases/ https://en.ata.gov.al/2024/04/02/boa-confidence-of-business-and-citizens-in-economy-increases/#respond Tue, 02 Apr 2024 17:48:39 +0000 https://en.ata.gov.al/?p=231262 TIRANA, April 2 /ATA/ Businesses and consumers are optimistic about the growing expectations of the economy during the month of March.
The Bank of Albania published the results of the Survey on Economic Sentiment Indicators (ESI) which marked an increase of 2.5 points in March. The increase of ESI this month was driven by the increase in confidence in the industry, trade, and services sectors as well as the increase in consumer confidence. On the other hand, the confidence in the construction sector decreased in March, after the growth recorded in the previous two months.

According to BoA, the industry confidence index (ICI) increased by 3.6%. Its level is currently 3.5 percentage points above the historical average.

The increase in ICI this month was influenced by increased business estimates for current industrial production as well as more optimistic expectations for future export orders. Also, business expectations for industrial production in the future registered growth. Expectations for future prices have remained unchanged compared to last month.

The construction confidence indicator (CCI) fell by 0.9 percentage points in March, after rising by 6.5 percentage points a month earlier. Its level continues to remain significantly above the historical average, with about 23 points.
CCI’s decline was largely driven by declining estimates for current construction activity. On the other hand, current orders were estimated to increase this month. Expectations for future employment and prices have declined.

The service confidence index increased by 6.4 percentage points in March. The level of the indicator currently stands at 12.3 percentage points above the historical average. The most optimistic evaluations of businesses contributed to the growth of SCI, both for the current progress of their activity, as well as for the current level of demand. Also, expectations for future demand and employment levels have been revised upward this month. Businesses have revised downward the future price performance.

The trade confidence indicator (TCI) increased by 2.7 percentage points in March, after falling by 10.3 percentage points a month earlier. Currently, the TCI level is around 3.4 percentage points above the historical average.
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