Angola Business Confidence Q2 2016


Economic sentiment plunges to yet another record low in Q2

The economic climate indicator (ICE, Indicador de Clima Económico), which is published by the National Statistical Institute and covers the mining, manufacturing, construction, trade, transport and tourism sectors, plummeted from minus 29 in the first quarter to minus 34 in the second quarter, hitting a new record low. The index is now even further below its plus 15-point historical average.

The second quarter’s slowdown was broad-based, with all seven components of the index dropping and scoring below their averages. The largest decreases were seen in construction and tourism.

This month’s Consensus Forecast projects that fixed investment will grow 1.7% in 2016, which is unchanged from last month’s estimate. In 2017, our panel of analysts expects private investment to increase 3.8%.

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Angola Business Confidence Chart

Angola Business Confidence Q216

Note: Economic Climate Indicator (ICE, Indicador de Clima Económico)
Source: National Statistical Institute (INE, Instituto Nacional de Estatística)

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