“We expect price increases in the future” - BoA: Confidence in the economy is falling. The services and industry sectors are “the most pessimistic”
Confidence in the economy is declining again. According to the Bank of Albania survey, the economic sentiment indicator fell by 2.2 points in June. The services and industry sectors made the biggest contribution to this deterioration.
Specifically, consumer confidence in the economy registered almost the same value as in the previous month. Citizens view the general situation of the economy in the future with optimism. However, they are not very optimistic about the financial situation and large purchases, while they also expect higher prices in the future.
The trade confidence indicator also remained almost the same, influenced by more positive assessments of the current performance of their business, but not only that.
On the other hand, confidence in the construction sector is the only one that has registered an increase. The increase of 1.6 percentage points in this indicator was mainly influenced by the more positive assessment of current construction activity. Expectations for the prices that builders will set in the future, as well as for employment, have been assessed as decreasing.
Meanwhile, the confidence indicator in services has contracted. This is because businesses in this sector have had lower levels of demand and activity during May. They anticipate increasing prices in the future, while expectations for the level of employment have also been revised downwards.
The industry confidence indicator decreased by 2.3 percentage points. This decline was influenced by less optimistic assessments of industrial production, as well as declining expectations for export orders. Business expectations of this sector for future employment have decreased in June, while the prices of products they will produce in the future are expected to remain the same.
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