Economic sentiment improves marginally in Angola but remains in negative territory
Despite the improvement, the index remained entrenched in negative territory, where it has been since Q3 2015.
The first quarter’s slight uptick was driven by improved sentiment in the external and transport sectors.
However, the improvements were nearly fully offset by deteriorations across the remaining economic sectors, most prominently the manufacturing, extractive and tourism industries—all of which saw notable deteriorations in sentiment from the previous quarter.
Meanwhile, sentiment in the construction and communication sectors remained virtually flat in Q1 from the previous quarter.
As a result, and despite the slight improvement in the headline figure, economic sentiment in all seven sectors surveyed remained below their respective long-term averages, signaling that the underlying fundamentals of the economy remain weak.
FocusEconomics Consensus Forecast panelists expect fixed investment to grow 5.8% in 2018, unchanged from previous month’s forecast, and 4.9% in 2019. ■