Albanias economic sentiment indicator drops further in Q1 2012.

By bne IntelliNews April 18, 2012
Albanias economic sentiment indicator dropped for a second quarter in a row, shedding 2.5pps q/q to 80.8pps in the first three months of 2012, the central bank said in its Business and Consumer Survey. The index was 19.2 points below its long-term average. The drop resulted from a worsened confidence in the industry and construction sectors and among consumers as well. Confidence in the industry sector lost further 3.5pps q/q in Q1 and stands 5.4 points below its long- term average. Companies assessment of the overall economic state deteriorated. Financial situation also worsened as foreign demand declined in the first three months of 2012. Confidence in the construction sector hit a new historic low of -27.9 points after declining by 1.4pps q/q in Q1. Capacities utilisation rate in the sector continued to drop over the period. Consumer confidence dropped by 7pps in Jan-March 2012 after improving in the previous two quarters. The deterioration was due the households negative expectations concerning major purchases, downturn in savingsexpenses balance. Consumers remained pessimistic regarding the overall economic outlook and their expected financial situation in the next three months. On the other hand, the confidence in the service sector improved by 3.2pps as a resulted from the positive assessment of the overall conditions, employment and financial situation. However, the index still remained 8pps below its long-term average.

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