The economic sentiment indicator increased slightly in March - Improved confidence in the trade sector contributed
The economic sentiment indicator increased slightly by 0.6 points in March. According to data from the Bank of Albania, the increase was mainly driven by improved confidence in the trade sector. In contrast, confidence indicators in other sectors of the economy contributed negatively, but the current level remains around 8 points above the average.
The industrial confidence indicator fell by 2.4 percentage points in March, after a five-month period of growth. The result was influenced by less optimistic assessments of businesses on industrial production, as well as on the performance of export orders. Meanwhile, business expectations for future prices have increased significantly this month.
The construction confidence indicator fell by 4 percentage points in March, but its level is about 6 percentage points above the historical average. The above result was influenced by businesses' assessment of construction activity and current orders. Expectations for future prices registered a significant increase this month.
The services confidence indicator decreased by 0.5 percentage points this month, impacted by a slight decline in businesses' assessment of the level of demand and current business performance. Businesses' expectations for future prices have been revised significantly upwards.
The trade confidence indicator increased by 7.6 percentage points in March, influenced by both businesses' optimistic assessments of current sales performance and businesses' expectations for future employment levels. As in other sectors, expectations for future prices marked a significant increase.
Meanwhile, the consumer confidence indicator decreased by 2.1 percentage points, influenced by lower expectations for their personal financial situation, as well as the future economic situation. In contrast, the situation of large purchases recorded an improvement, making a positive contribution.
Quarterly data show that the capacity utilization rate decreased in the industry, construction and services sectors, while it increased in the trade sector, during the first quarter.
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