Economic climate in Cabo Verde maintains upward trend in Q3

20 October 2015

The economic climate indicator in Cabo Verde (Cape Verde) in the third quarter maintained the upward trend started in the first quarter of the year, which means that the pace of economic growth is accelerating, the West African archipelago’s National Statistics Institute said Monday.

However, INE said, the indicator was below the series average and despite growth, remained below the figure recorded in the period from July to September 2014.

According to Cabo Verde’s INE, this economic climate indicator is the collation of findings submitted by business owners from the sectors of construction, trade in property, tourism, manufacturing and transport and auxiliary services to transportation.

The figures show that the tourism sector is showing signs of recovery and the trade at fairs sector is having few difficulties, but construction and residential tourism had pulled the index into negative territory. (macauhub/CV)