Economic climate improves in Cape Verde in 2nd quarter

18 July 2006

Praia, Cape Verde, 18 July – The Cape Verdean economic climate improved in the second quarter, reaching the highest level of the last four years, after receding slightly at the end of last year, said the archipelago’s National Statistics Institute (INE).

The economic climate index is calculated based on a panel of interviewees made up of business owners from the construction, commercial, tourism, manufacturing industry and transport and related services sectors.

Amongst the several sectors analyzed, tourism was the only one that did not post an improvement, and construction remained on a high.

Activity and confidence in the construction sector posted increases against the same period of the previous year and maintained the growth trend of the previous two quarters.

In the manufacturing industry, transport and related services, as well as commerce, the downward trend posted in the previous quarter changed, according to the INE.

According to INE, “in the second quarter of 2006, the climate indicator changed the downward trend of the last quarter, or rather, the rhythm of economic growth increased again, with the indicator reaching its highest value since the beginning of the series and gaining on the same period of 2005.” (macauhub)