Cape Verde’s rate of economic growth continues to slow in 4th quarter of 2012

17 January 2013

The rate of economic growth in Cape Verde continued to slow in the fourth quarter of 2012 and the indicator posted its lowest level in the last 31 consecutive quarters and was below the average for the series, the country’s National Statistics Institute said Wednesday.

Based on the opinions of business owners in the construction, retail, tourism, manufacturing and transport and auxiliary services sectors, the archipelago’s statistics institute also said that the economic climate indicator had a negative performance against the same period of 2011, and the economic climate was unfavourable.

For example, in the manufacturing industry the confidence indicator posted the lowest rate in the last 38 consecutive quarters, and the sector’s outlook is negative.

In the tourism sector the confidence indicator remained stagnant and the outlook negative. The construction sector was the exception as the confidence indicator posted its highest rate of the last eight consecutive quarters, although the outlook remained negative. (macauhub)