Angola: Economic sentiment deteriorates further in Q1
June 17, 2015
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, fell from 16 in the fourth quarter of last year to 11 in the first quarter, thus reaching the lowest level since Q4 2012. As a result of the decrease, the index is now well below its 15-points historical average.
Q1’s slowdown was broad-based. The construction and trade sectors deteriorated over the previous quarter and reached their lowest level on record. In addition, tourism deteriorated in Q1, thus marking the fourth consecutive drop. In contrast, in the first quarter, transportation improved and reached its highest level in nearly two years.
Author: Dirina Mançellari, Senior Economist