Businesses, "uncertain" about the performance of activity - BoA: Consumers, the only ones with increased confidence in the economy during November
Consumers were the only ones with confidence in the Albanian economy during November, while businesses were more pessimistic. According to the Bank of Albania's monthly survey, the economic sentiment indicator fell by 2.6 points in the month just passed.
Consumer confidence in the economy increased as a result of more optimistic expectations about personal financial situation, as well as the future economic situation. On the other hand, large purchases, both current and expected, did not change compared to the previous month.
As for businesses in the services sector, the decline in confidence was influenced by less positive assessments of the level of demand and the current performance of their work. Businesses' expectations for future prices continued to decline.
On the other hand, the trade confidence indicator also fell by 2.3 percentage points. The decline was mainly influenced by the downward assessment of the level of employment in the future. The other component of the TBT, the assessment of the current sales performance, did not change compared to the previous month. Expectations for future prices increased.
Industry confidence remained unchanged compared to the previous month. The decline in the business assessment component for export orders contributed negatively to the TBI. On the other hand, business assessment for current industrial production registered a slight increase. Business expectations for future prices also increased.
The construction confidence indicator fell by 3.1 percentage points in November. It currently stands at 14.4 percentage points above its historical average. The monthly decline was driven by business sentiment on construction activity and current orders. Price expectations continued to fall this month.
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