Ghana Economic Outlook
December 13, 2018Incoming data suggests that growth lost some steam in the second half of this year following a healthy expansion in the first half. PMI fell into negative territory in September, signaling a deterioration in business conditions. The index bounced back into positive territory in October and November, although remained subdued as new business growth remained weak. In addition, survey-based data points to rapidly deteriorating sentiment in the Ghanaian private sector: Both consumer and business confidence weakened further in October against the backdrop of a depreciating cedi, likely weighing on private consumption and investment activity. In more positive news, metrics were more upbeat in the external arena. Despite softer demand for gold and cocoa, exports continued to grow at a healthy rate in October, propped up by surging oil exports.
Ghana Economic GrowthSolid domestic demand dynamics are expected to drive sturdy growth next year, against the backdrop of higher consumer spending and elevated investment activity growth. In addition, the external sector should benefit from a favorable price outlook for Ghana’s key export commodities, further buttressing the overall expansion. FocusEconomics panelists expect the economy to expand 5.9% in 2019, which is down 0.3 percentage points from last month’s forecast, and 5.6% in 2020.
Ghana Economy Data
5 years of Ghana economic forecasts for more than 30 economic indicators.
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|Exchange Rate||4.91||0.0 %||Dec 12|
|Stock Market||0.1||0.0 %||Dec 07|
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Ghana Economic News
December 12, 2018
Consumer prices rose 0.7% in November, unchanged from the previous month’s print.
December 5, 2018
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) rose from 50.2 points in October to 50.5 points in November.
November 26, 2018
At its three-day meeting concluding on 26 November, the Monetary Policy Committee (MPC) of the Bank of Ghana (BOG) decided to keep the policy rate on hold at 17.00%.
November 15, 2018
Consumer prices rose 0.7% in October from the previous month (September: 0.0% month-on-month).
November 5, 2018
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) rose to 50.2 points in October from 49.2 points in September.