Angola Business Confidence

Angola

Angola: Economic sentiment plummets to lowest level in nearly five years

September 16, 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 11 in the first quarter to 2 in the second quarter, thus reaching the lowest level since Q4 2010. As a result of the decrease, the index is now well below its 15-points historical average.

Q2’s slowdown was broad-based. The construction and trade sectors deteriorated over the previous quarter and reached their lowest levels on record. In addition, tourism slowed in Q2, thus marking the fifth consecutive drop, and the transportation sector deteriorated after three consecutive periods of improvement.

LatinFocus Consensus Forecast panelists expect fixed investment to grow 4.1% in 2015, which is down 0.3 percentage points from last month’s estimate. In 2016, the panel expects private investment to increase 6.0%.


Author:, Senior Economist

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Angola Business Confidence Q215

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


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