IMF: Global growth is expected to decline and downside risks to intensify as major policy shifts unfold – WEO
5 hours ago
Albania's industrial production went down by 1.8% y/y in the third quarter of 2020, slowing significantly from a 22.8% y/y decrease in the previous quarter, according to seasonally unadjusted data released by statistics institute INSTAT on December 16.
Industrial production has been falling for three consecutive quarters due to the consequences of the coronavirus (COVID-19) crisis on the economy.
Compared with the previous quarter, industrial production jumped by 22.7% after falling by an adjusted 10.4% q/q in 2Q19.
Production volume index in the mining and quarrying subsector fell 12.5% y/y in the third quarter, and rose 23.2% q/q.
In the manufacturing industry, the index increased 2.1% y/y and was higher 19.4% q/q.
On an annual basis, production in the electricity and gas sector rose 2.3% y/y and soared 31.2% q/q.
The output in the water supply and waste management moved up 0.8% on an annual basis and jumped 33.9% q/q.
The output in Albania's construction sector expanded 14.8% y/y and went up 17.6% q/q in the period under review.
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