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.
Author: Dirina Mançellari, Senior Economist