News 18 Jul 12

Albanian Gloom About Economy Worsening

New Central Bank data show that consumer confidence has fallen to its lowest level in seven years. 

Besar Likmeta
BIRN
Tirana

According to the bank, consumer confidence in the economy slid by 1.3 point in the second quarter of 2012, compared with its last estimate.

The index registered the outlook of Albanian consumers towards the economy in three main areas, large expenditures, savings and general expectations about the economy.

The consumer confidence index, at -14.5, stands now at its lowest level since the first quarter of 2005.

Data published last week by the National Institute of Statistics, INSTAT, show the economy contracted by 0.2 per cent in the first quarter of the year - a downturn blamed mainly on the eurozone debt crisis.

The worst performing sectors of the economy were industry, construction and post-telecommunications.

The industrial sector alone contracted by 19.6 per cent during the first quarter of this year. 

Talk about it!

blog comments powered by Disqus

Related Headlines:

vucic-nikolic-pact-hides-serbian-leaders-bitter-rivalry-02-22-2017
23 Feb 17

Vucic-Nikolic ‘Pact’ Hides Serbian Leaders’ Bitter Rivalry

Serbia’s President and Prime Minister may have sealed a ‘non-aggression’ pact, but their relationship is not an alliance of friends but a deal reflecting pure mutual interest.

22 Feb 17

NATO Black Sea Plans Cause Dissent in Bulgaria

Premium Selection

bosnia-s-two-entities-are-racing-to-the-bottom-02-23-2017
23 Feb 17

Bosnia’s Two Entities Are Racing to the Bottom

With high unemployment rates, little investment, a culture of excessive spending, high debts and blocked IMF program, Bosnia's two entities seem to be engaged in race to complete bankruptcy.

croatia-s-lgbt-community-spooked-by-nightclub-attack-02-21-2017
22 Feb 17

Croatia’s LGBT Community Spooked by Nightclub Attack

A recent attack on an LGBT club night in Zagreb rekindled fears of persecution and raised concerns that Croatia has not made as much progress on gay rights as some had hoped.

21 Feb 17

Croatia Profits from Syria’s Gruesome War