Consumer and business, more confidence in the economy - BoA: Economic sentiment indicator increased by 1.1 points in March
The economic sentiment indicator, an indicator measured by the Bank of Albania, increased by 1.1 points in March, standing 8.1 points above the historical average. This increase was driven by improved consumer and business confidence in all sectors, with the exception of the trade sector, which made a negative contribution.
The industry confidence indicator increased by 1.4 percentage points, remaining around 6 percentage points above the historical average. The improvement in March was determined by optimistic assessments of businesses' export orders, as well as a more optimistic assessment of current industrial production. Businesses assess the state of inventories as slightly decreasing, while expectations for future prices have marked a slight increase compared to the previous month.
The construction confidence indicator increased by 1.6 percentage points and its level continues to remain significantly above the historical average. This month's performance was determined by the increase in businesses' assessments of current construction activity. Businesses also expressed optimism about future employment, while price expectations were revised slightly downwards.
The confidence indicator in services increased by 1.2 percentage points and stands about 13 percentage points above the historical average. The improvement was determined by more positive assessments of businesses about the current performance of their activity. Also, expectations for the level of employment in the future have increased.
The trade confidence indicator decreased by 2.1 percentage points in March. However, its level continues to remain around 5 percentage points above the historical average this month. This performance was influenced by more pessimistic assessments of current business performance, as well as declining expectations for the level of employment in the future. Expectations for future prices have been revised downwards.
The consumer confidence indicator increased by 2.3 percentage points for the second consecutive month, bringing the level of this indicator back above the historical average of 3.5 percentage points. The increase this month reflected both more optimistic expectations for the general situation of the economy and their financial situation in the future, as well as the improved situation of large purchases.
Quarterly data show that businesses' assessments of their financial situation are lower than in the fourth quarter of 2024. However, their level in the first quarter of 2025 remains significantly above the historical average.
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