Trade, the sector where Albanians trust the most - BoA survey: Business performance and employment expectations are estimated to be increasing
August closed with low confidence in the economy, where according to the monthly survey of the Bank of Albania, the economic sentiment indicator shrank by 0.8 points. This decline was due to the weakening of confidence in almost all sectors, such as construction, industry, services, and consumers, with the exception of trade, which is the only sector with increased confidence.
Specifically, confidence in industry fell by 4 percentage points in August, as a result of deteriorating assessments of industrial production and negative expectations for export orders. Businesses in this sector expect falling employment and rising prices in the future.
Meanwhile, consumer confidence in the economy also fell by 0.5 percentage points, but remained above the historical average. This decline in consumer confidence in the economy was due to a negative assessment of the general economic situation, their future financial situation and current large purchases. Also, expectations for the general level of prices in the future have been revised slightly downwards.
On the other hand, confidence in construction continues to decline, mainly influenced by negative assessments of current construction activity and those for commissioning contracts. Businesses in this sector also expect falling employment and rising prices in the future.
In terms of trade confidence, it is the only one with an increase of 5.4 percentage points as a result of increasing assessments of current business performance and expectations for future employment.
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