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

Premium Selection

picturesque-eastern-serbian-town-reveals-extent-of-election-fraud-05-24-2016
25 May 16

Picturesque Eastern Serbian Town Reveals Extent of Election Fraud

Opposition parties and local observers have complained that recent elections in Serbia contained significant incidences of election fraud. A BIRN investigation found that those worries might be true in the small Serbian town of Zagubica.

bosnia-s-chinese-investments-come-with-strings-attached-05-25-2016
25 May 16

Bosnia's Chinese ‘Investments’ Come With Strings Attached

Chinese money is enabling Bosnia to overhaul its aging power plants – but these loans will all have to be repaid some day.

24 May 16

Macedonians Abroad Support Protests Back Home

23 May 16

Macedonia Deputy PM Kept Cypriot Firm Secret

Latest News from the Balkans

26 May 16

Serbia to Get Fourth Mobile Phone Operator

26 May 16

Macedonian President Defiant Over Pardons

26 May 16

Bulgaria Bails Out its Indebted Municipalities

25 May 16

Kosovo Broadcaster Faces Threat of Eviction