Confidence indicator in Cabo Verde falls to lowest value ever in 2nd quarter

10 August 2015

The confidence indicator in Cabo Verde (Cape Verde) in the second quarter fell to the lowest ever value, according to the results of the Economic Climate Survey of the National Statistics Institute (INE).

INE said that the confidence of the Cape Verdean population also continued to decline over the same period of last year due to the negative assessment of the financial situation of households and the country for the next 12 months.

Over 80 percent of respondents (82 percent) considered that in the country’s current economic situation it is not possible to save money, while in the same quarter of 2014 this percentage was 69 percent.

When asked whether they intend to buy a car within the next two years, the majority, 99 percent, said they were absolutely sure they do not intend to buy a vehicle, which was also the case when asked if they planned to buy or build a house. (macauhub/CV)