Citizens optimistic about large purchases - BoA: Confidence in the economy shrinks by 1.3 points. Services and consumers, the only ones growing
Confidence in the economy has not stopped its downward trend in September. According to the Bank of Albania survey, the economic sentiment indicator shrank by 1.3 points. This decline was due to the weakening of confidence in the industry and trade sectors, while services and consumers are the only ones with increased confidence.
Specifically, confidence in industry fell by 6.3 percentage points in September, as a result of deteriorating assessments of industrial production and negative expectations for export orders. Businesses in this sector expect falling prices in the future.
Meanwhile, consumer confidence in the economy has increased by 0.8 percentage points. This increase in consumer confidence in the economy came due to the possibility of making large purchases at the moment and the expectation of making even more purchases in the future. Despite this, they are not very optimistic about their financial situation and the general situation in the economy in the future.
Increased demand in businesses operating in the service sector led to confidence in this sector increasing by 2.5 percentage points in the previous month. They also predict price reductions in the future. On the other hand, confidence in construction has not changed.
As for business confidence, it fell by 9.7 percentage points in September, breaking the upward trend of the last two months. This decline was mainly driven by downward assessments of current business performance and less expectations for future employment levels. Expectations for future prices also fell.
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