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.