Angola: Economic sentiment plummets to a new record low in Q1
June 9, 2016
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, nosedived from minus 20 in the fourth quarter to minus 29 in the first quarter, thus establishing a record low. As a result of the decrease, the index is now much further below its plus 15-point historical average.
Q1’s slowdown was broad-based, with all seven components of the index dropping and scoring below their averages. The biggest drops were seen in tourism and construction.