Cape Verde’s economic climate is unfavourable, statistics institute says

19 July 2012

“Cape Verde’s economic climate is unfavourable,” the archipelago’s National Statistics Institute (INE) said in its Company economic climate Survey for the second quarter of 2012.

Posting its lowest value for the last eight quarters, Cape Verde’s economy is in a slump according to the opinions of businesspeople from the construction, retail, tourism, manufacturing, and transport sectors surveyed by INE.

The exception is manufacturing industry in which the economic climate is considered to be good, and which posted the highest levels in the last six quarters.

In the transport sector the economic climate is adverse, as is also the case for tourism where the downward trend has worsened over the last few quarters.

However, despite a generally unfavourable economic climate for the sector, in-store retail improved slightly as compared to the same quarter of 2011 and the same was seen with retail at markets, in which businesspeople were satisfied with the progress made.

In the construction sector all indicators worsened, the economic climate is bad and values were negative as compared to the same quarter of last year. (macauhub)