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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
Cape VerdeCape Verde Business Confidence fell to 13 in October 2024
FMPMonthlyReleased March 2025
Cape Verde Business Confidence fell to 13 in October 2024, released March 2025, down 3 from September's 16 reading. The reading matched the 13 consensus. The print is running well above the 12-month average of 9.6.
Latest Release
13
Actual
13
Consensus
16
Previous
Median Absolute Error
±3
across last 6 releases
Last Call
Mar 2025
Predicted: 13
Actual: 13
Error: +0
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Moves with | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Business Confidence (Cape Verde) was reported at 13.00 in March 2025. This matched the market consensus of 13.00 exactly. The reading fell from the previous value of 16.00.
WHY IT MATTERS
The trailing three releases averaged 13.67, up from the prior three at 6.67.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch). Over the last 6 releases, the Sigmacast model's median absolute error is 3.00.
Auto-generated from current model state · Refreshes on each release · Last update March 2025.
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Business Confidence - CV
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About Business Confidence — Cape Verde
DEFINITION
Business Confidence is a financial indicator that measures the level of optimism or pessimism among business owners and managers about the current and future state of the economy. It is often used as a gauge of overall economic health and can impact investment decisions, hiring practices, and consumer spending. A high level of business confidence indicates a positive outlook and potential for growth, while a low level may signal caution and potential economic downturn. This indicator is closely monitored by economists, policymakers, and investors to assess the overall sentiment and potential direction of the business sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2024): actual 13, consensus 13. Prior reading (Jul 2024): 16. Before that (Apr 2024): 12.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
Σ
EXPECTED ZONE
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