Cape Verde’s economic growth rate continues to slow

16 October 2012

The rate of economic growth in Cape Verde continued to slow in the third quarter and the economic climate indicator posted its lowest level in the last nine consecutive quarters and was below the average for the series, the country’s National Statistics Institute said Monday.

This diagnosis of the economic climate was calculated based on the opinions of business owners in the construction, retail, tourism, manufacturing and transport and auxiliary services sectors, and INE said that in the period “the outlook is unfavourable in practically all business sectors, except in retail at markets, which remains favourable.”

INE also said that the economic climate indicator had worsened as compared to the same period of last year, from which came the conclusion that the country’s economic outlook is unfavourable. (macauhub)