Businesses and individuals have less confidence on the economy

Businesses and individuals have  less confidence on the economy
According to the Bank of Albania, both of these categories are less optimistic about their prosperity tomorrow, but they’re also pessimistic about their current situation

They have less confidence on the economy than they used to have before. Individuals or businesses, one thing is sure: They are more pessimistic than before as far as their economic situation is concerned. This is confirmed by the country’s central bank. According to the data supplied by the Bank of Albania, both of these categories have registered significant drop in the confidence that they have in the economy.

“Economic sensitivity indicator fell by 9.9% during the second quarter of 2018. This reflected a fall in business confidence and consumer confidence”, states the latest Observation for Businesses and Consumers. According to the report, this situation applies not only to their current situation, but also to their future expectations. This suggests not a very promising situation of the economy in the months to come. In the report in question, BoA explains that confidence has dropped in all the sectors of the Albanian economy. “Confidence in the industry sector fell by 3.7% during the second quarter of the year”, experts say. They also explain that the same situation also exists in the construction sector. Confidence of this sector in the economy has fallen by 1.9%. In the service sector, experts have identified a drop in confidence by 8.9%.  This indicates a slowdown in the performance of this sector which generates lots of money and incomes. The same logic also applies to trade, which is equally important for Albanians and their economy. The confidence of this sector in the economy has fallen by 3.3%.

 

 

 

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