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Business boosts confidence in the country’s economy

Business boosts confidence in the country’s economy

The Bank of Albania  publishes the business confidence survey report in the economy for the first quarter of 2018

Business confidence in the Albanian economy has risen, continuing to remain above its long-term average.

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According to the Bank of Albania, the economic sentiment indicator grew by 3.7 points in the first quarter of this year, supported by the trade, services and industry sectors.

The service branch remains the main pillar of the country’s economy and the positive performance of this sector is also reflected in business sentiment. The confidence indicator in the services sector grew by 3.6 percentage points compared to the previous quarter and is currently 20 percentage points above the historical average. The growth of this indicator in the first quarter of the year came especially from the improvement in demand, where the index increased by 8.5 percentage points, the BoA report cites.

Even in the trade sector, the service sector measured only in the survey, the confidence indicator grew by 6.8 percentage points. Businesses gave a more positive response with regard to overall business performance and employment expectations.

While in the industry sector, the confidence indicator grew by 2.4 percentage points in the first quarter of 2018, reflecting higher production growth, lower inventory status, and increase in order contracts. The growth of the first quarter moved the indicator around 10.2 percentage points above the historical average.
News Source: ATA

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