Rate of economic growth in Cabo Verde continues to slow in 2nd quarter

22 July 2014

Cabo Verde’s (Cape Verde’s) economic climate indicator continued on the downward trend seen in the previous quarter, which means economic growth continues to slow, the National Statistics Institute (INE) said in Praia.

According to INE’s report for the 2nd quarter of 2014, which is the result of surveys of opinions of businesspeople in the construction, retail, tourism, manufacturing, transport and auxiliary services sectors, the economic climate indicator also fell against the same period of 2013.

INE also said that in the manufacturing and transport and auxiliary services sectors the confidence indicator improved and in the remaining sectors it remained unchanged or fell.

In the case of tourism, for example, the confidence indicator posted its lowest level of the last 14 consecutive quarters. (macauhub/CV)