The economy is losing confidence! - BoA survey: Services, the only sector with growth
The year 2025 has started with low confidence in the economy. According to the monthly survey of the Bank of Albania, the economic sentiment indicator fell by 0.8 points in January. Confidence has fallen in all sectors of the economy, with the exception of services.
Specifically, the services confidence indicator increased by 4.4 percentage points in January. This is due to positive assessments by businesses about the current performance of their activity and the current level of demand. Meanwhile, expectations for the level of employment and future price developments have been revised upwards.
On the other hand, consumer confidence in the economy has recorded a decline of 3 percentage points, bringing the level of this indicator below the historical average, for the first time since June 2024.
Citizens are pessimistic about the general economic situation in the future, as well as about large purchases. They are also afraid of a sudden increase in prices in the future.
The industry confidence indicator also fell by 4.7 percentage points, continuing the downward trend for the fourth consecutive month, influenced by more pessimistic assessments of businesses for current industrial production.
Confidence in trade decreased by 2.9 percentage points. The decline in this indicator was mainly influenced by a more pessimistic assessment of current business performance. Expectations for future employment and prices were assessed as increasing.
The construction confidence indicator has also shrunk. The decline in this indicator came mainly from more pessimistic assessments of current construction activity. Expectations for the prices that builders will set in the future, as well as for employment, have registered an increase.
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