Business optimism on the rise, but consumers remain pessimistic

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Business confidence in the economy has grown, but consumer confidence remains low. The Bank of Albania’s Economic Sentiment Index increased by 2 percent in June.

Improved business confidence in the industries, construction, and services sectors drove growth, while consumer and corporate confidence in the trade sector has dropped during this time period.

According to detailed survey data, enterprises in construction, industry, and services are optimistic about the current situation and future trends. Meanwhile, pricing expectations remain high and beyond their historical norm.

In terms of commerce, the drop is driven by both actual business performance and employment expectations. Consumers’ confidence decline was affected by more dismal views for the country’s economic situation, as well as more pessimistic predictions for large-amount purchases, both current and projected.

The economic sentiment index is an important survey since it reveals the expectations of citizens and businesses to spend and invest.