News from Islands
Pace of economic growth in Cape Verde was reduced in the second quarter
Praia, Cape Verde, 18 July - The pace of economic growth slowed in the second quarter in Cape Verde, reversing the upward trend of previous quarters, according to the National Statistics Institute (INE).
According to INE, in this period, there was still that the indicator of confidence of economic operators adversely evolved over the same quarter, settling at a level below the series average, which means that the economic is unfavorable.
This diagnosis quarterly cyclical, INE reported results of the synthesis of the findings submitted by contractors for the construction, commercial establishments, tourism, manufacturing, transport and ancillary services to transport.
In the tourism sector, for example, the confidence indicator bucked the trend of stagnation in the last quarter, although the unfavorable situation in this sector will continue and the construction confidence indicator recorded its lowest of the past 25 consecutive quarters.
Difficulties in securing supplies of energy and water and lack of orders are identified as factors contributing to the crisis in the construction sector in Cape Verde.
Source: macauhub
