Angola: Economic sentiment tumbles to lowest level on record
December 28, 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 plus 2 in the second quarter to minus 9 in the second quarter, thus establishing a new historical low. As a result of the decrease, the index is now well below its 15-point historical average.
Q3’s slowdown was broad-based with all seven components of the index scoring below their averages. The biggest drops were seen in the commerce and tourism component. Construction, on the other hand, was the only component that did not report a negative evolution—it remained unchanged at the historically-low reading that was tallied in Q2.