Angola Business Confidence Q4 2016


Angola: Economic sentiment plunges to a new record low in Q4

February 26, 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, dropped from minus 9 in the third quarter to minus 20 in the fourth quarter, thus establishing a new historical low. As a result of the decrease, the index is now further below its 15-point historical average.

Q4’s slowdown was broad-based, with all seven components of the index scoring below their averages. The biggest drops were seen in the manufacturing component. Extractive industries, on the other hand, was the only component that did not report a negative evolution—it improved marginally but remained well entrenched in negative territory.

This month’s Consensus Forecast projects that fixed investment will grow 1.7% in 2016, which is down 2.2 percentage points from last month’s estimate. In 2017, our panel of analysts expects private investment to increase 4.5%.

Author: Jean-Philippe Pourcelot, Economist

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Angola Business Confidence Chart

Angola Business Confidence Q415 0

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

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