The S&P Global Ghana PMI fell to 49.4 in December 2024 from 52.5 in November, signaling a slight contraction in private sector activity after two months of growth. The decline stemmed from election-related disruptions, with business activity shrinking for the first time in three months as firms paused operations temporarily. Despite this, new orders rose modestly, supported by a stronger cedi, which helped some firms secure contracts. Employment also increased for the eleventh consecutive month but at a slower pace. On prices, input cost inflation eased to a nine-month low due to the stronger cedi, though purchase and staff costs remained high, prompting firms to raise selling prices above historical averages. Looking ahead, business sentiment hit a six-month high, fueled by expectations of stable prices and favorable conditions under the incoming government. The 2025 outlook suggests growth as election disruptions wane. source: S&P Global

Composite PMI in Ghana decreased to 49.40 points in December from 52.50 points in November of 2024. Composite PMI in Ghana averaged 50.60 points from 2017 until 2024, reaching an all time high of 56.50 points in September of 2017 and a record low of 31.70 points in April of 2020. This page provides - Ghana Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite PMI in Ghana decreased to 49.40 points in December from 52.50 points in November of 2024. Composite PMI in Ghana is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




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Ghana Composite PMI
The Stanbic Bank Ghana Purchasing Managers’ Index is based on data compiled from monthly replies to questionnaires sent to purchasing executives in approximately 400 private sector companies, which have been carefully selected to accurately represent the true structure of the Ghanaian economy, including agriculture, construction, industry, services and wholesale & retail. The panel is stratified by GDP and company workforce size. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. The Purchasing Managers’ Index (PMI) is a composite index based on five of the individual sub-components with the following weights: New Orders- 0.3, Output- 0.25, Employment- 0.2, Suppliers’ Delivery Times- 0.15, Stock of Items Purchased- 0.1, with the Suppliers’ Delivery Times sub-component inverted so that it moves in a comparable direction. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.


News Stream
Ghana Private Sector Slips Back to Contraction
The S&P Global Ghana PMI fell to 49.4 in December 2024 from 52.5 in November, signaling a slight contraction in private sector activity after two months of growth. The decline stemmed from election-related disruptions, with business activity shrinking for the first time in three months as firms paused operations temporarily. Despite this, new orders rose modestly, supported by a stronger cedi, which helped some firms secure contracts. Employment also increased for the eleventh consecutive month but at a slower pace. On prices, input cost inflation eased to a nine-month low due to the stronger cedi, though purchase and staff costs remained high, prompting firms to raise selling prices above historical averages. Looking ahead, business sentiment hit a six-month high, fueled by expectations of stable prices and favorable conditions under the incoming government. The 2025 outlook suggests growth as election disruptions wane.
2025-01-06
Ghana Private Sector Growth Hits Over 3-Year High
The S&P Global Ghana PMI rose to 52.5 in November 2024, up from 50.6 in October, marking the strongest growth in the private sector since September 2021. New orders increased for the fourth time in five months, driven by stronger demand and new customer acquisitions. Output also grew for the second consecutive month and at the quickest pace in seven months. In response to rising new orders, firms hired more workers to manage workloads and prevent backlogs. At the same time, companies expanded their purchasing activity, ending a three-month contraction. In turn, stocks of finished goods increased solidly and to the largest degree in a year. However, suppliers' delivery times continued to shorten, linked in part to advanced ordering by firms. On the price front, input cost inflation surged to its highest level since June, prompting firms to raise selling prices at a similar pace. Finally, business sentiment ticked higher and remained just above the historical trend.
2024-12-04
Ghana Private Sector Expands Slightly in October
The S&P Global Ghana PMI rose to 50.6 in October 2024, up from 49.1 in the prior month, indicating a mild return to expansion in the country's private sector. Renewed increases in both output and new orders were accompanied by the fastest rise in employment so far this year. Meanwhile, purchasing activity was scaled back amid muted customer demand and elevated prices for inputs. Indeed, the rate of overall input cost inflation quickened to a three-month high, largely due to a depreciation of the cedi against the US dollar and higher raw material prices. Consequently, selling prices were also raised, with the rate of increase steeper than the series average. Lastly, business sentiment dropped to a three-month low, but it remained stronger than the series average.
2024-11-05