Albania’s economic sentiment indicator grew by 4.3pps q/q to 87.3pps in Q1 2013, growing for second consecutive quarter, the central bank said in its business and consumer survey. The index was 12.7 points below its long-term average.
The growth could be mainly attributed to the higher confidence in the construction sector and to a lesser extent to developments in the service sector and among consumers. On the other hand, confidence in the service sector had a negative contribution to the overall index. In particular, confidence in the construction sector increased by 20pps in Q1, rebounding from its historic low reached in Q4 2012. Companies’ improved assessment of demand and production were the main factors behind the positive development. Confidence in the industry sector advanced by 3.2pps q/q in Q1 to 3.3 points below its long- term average. Companies’ assessment of their production and employment improved in the period. The confidence in the service sector slipped by 3.1 pts q/q in Q1 on the back of a negative assessment for overall economic situation and employment as well. The consumer confidence edged by 0.5pps q/q in Q1, following a 3.2pps q/q drop in the previous quarter. This reflected a positive outlook of financial and economic situation.
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