
The economic sentiment indicator recorded a slight increase of 0.4 points in October. The increase in confidence in the service sector, trade, or the increase in consumer confidence in the country's economy as a whole, have contributed to the improvement of the economic sentiment indicator in October. On the other hand, the confidence indicators in the industry and construction sectors decreased compared to a month ago.
Specifically, the consumer confidence indicator registered an increase of 0.2 percentage points, following the slight upward trend of the last months. During October, consumers were optimistic about the economic situation, while they also increased their purchases in large amounts. They also expect a decrease in the unemployment rate in the future.
According to official data from the Bank of Albania, the confidence indicator in construction shrank by 3.3 percentage points in October. Current construction activity and the level of new orders have influenced the decline in construction confidence. Expectations for the prices they will set in the future have also registered declines.
Businesses in the service sector are expected to lower prices. The current progress of their activity and the current level of demand brought an increase in the confidence indicator in this sector. Also, the trade confidence indicator registered a slight increase of 0.1 percentage point in October, mainly influenced by better estimates for the current business performance. The TBT was influenced to the downside by expectations of the level of employment in the future. This sector is expected to increase prices going forward.