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In October, economic confidence index has reached the lowest level within the last two years

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04.11.2008   Infomarket  615 

As the economic expert of IDIS Viitorul Mihai Bologan has noted at the press conference on Tuesday, in October the index has made 113,7 points or half-point more than the last month. At the same time, the expert explained that low level of ECI in October yet does not specify that there is crisis in the economy of Moldova. It will be possible to speak about crisis, when ECI will reach 100 points, and about economic recession -“ when ECI will be below 100 points. Index decrease is stipulated by the declining confidence of economic agents from agriculture (by 12,6 points, ECI- 110,9 points) and trade (by 14,6 points, ECI - 104,3). Pessimism of agricultural economic agents is explained by impossibility to sell agricultural products on the favorable prices. As to the trade sector, the companies expect low level of activity, at least, till winter holidays. The economic agents of the building branch have shown reserved business expectations -“ ECI has made 109,8 points or 2,5 points less, than the last month. So, in conditions of further growth of prices for building materials, the construction companies will be forced to increase the prices for apartments, offices, etc. that creates uncertainty in future. Only in two branches growth of expectations of economic agents is registered: sector of services (in particular focused on business environment) and industry (winemaking and industrial output) where ECI has increased by 11,2 and 3 points accordingly -“up to 118 and 117,6 points in October. Commenting on ECI indicators registered in agricultural sector in October, economic expert of IDIS Viitorul Veaceslav Ionita has noted that they reflect real situation in this branch. As to the trading companies, they show excessive pessimism, and the next months ECI in trade will grow. «On the whole, both in poor and developing countries expectations of economic agents are much more optimistic than in developed states, as any fluctuation or collisions in the economy of these states lead to either excessive pessimism or optimism", - Veaceslav Ionita has told.



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