TIRANA, Sept. 1 /ATA/ – Business and consumer confidence in Albania’s economy improved in August, led by a sharp rise in optimism in the construction sector, while sentiment also strengthened in trade and services, the Bank of Albania said on Tuesday.

The Economic Sentiment Indicator rose 1.8 points in August, standing

7.4 points above its historical average, the central bank said in its latest survey.

Construction confidence posted the strongest increase, rising 4.7 points to 10.3 points above its historical average, supported by more positive assessments of current activity and order books.

Trade confidence rose 2.1 points and stood about 11 points above its historical average, helped by stronger assessments of current sales and expectations for employment growth.

Services confidence increased 1.8 points, remaining about 7 points above its historical average, as businesses reported improved demand and current activity.

Industrial confidence, however, fell 1.2 points from July, although it remained 6.4 points above its historical average. The decline was mainly driven by weaker assessments of order books.

Consumer confidence rose 0.8 points in August to 2.2 points above its historical average, supported mainly by more positive views on current and expected purchases of big-ticket items.

The Bank of Albania’s monthly survey covers industry, construction, services, trade and consumers and is used to gauge perceptions of current economic conditions and expectations for the period ahead.

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