The government of Cape Verde just released its report on consumer confidence for the first trimester of 2017.

Although consumer confidence in Cape Verde has been negative for the past years with most consumers not believing in the possibility of increasing any savings, the situation appears to have been overturned this year. In fact, all four macro indicators the survey aimed at studying reveal positive trends in terms of consumer confidence, for the first time in three years.

In what retail is specifically concerned, this trend appears even more apparent. Compared to the past four years where the consumer confidence indicator in retail has been at an average of -4.5, this year’s confidence levels stand at +3. Cape Verde authorities say that the positive developments are mainly due “to the positive appreciation of the financial situation of households, of the economic situation of the country and to the decrease of unemployment levels”.

The full report is available here [in Portuguese].