Ghana Economic Outlook
December 13, 2019
Growth momentum appears to have been broadly sustained in the third quarter. The PMI averaged higher from Q2, amid solid growth in output and employment, hinting at improving private sector activity in Q3. On the other hand, external sector metrics were less encouraging: Merchandise exports lost some steam in Q3, which, coupled with a marked jump in imports, led to a wider current account deficit. Turning to Q4, available data is mixed. Whereas the PMI bounced back strongly from October’s 13-month low in November, business activity was likely bruised by currency-related uncertainty. In December, the cedi slumped to an all-time low after the government’s 2020 budget proposal promised to increase spending by 21.0% next year. Meanwhile, favorable prices for Ghana’s key export commodities boded well for the external sector in October–November.Ghana Economic Growth
Healthy growth is expected to carry over into next year, thanks to resilient domestic demand. Consumption should benefit from a jump in public spending and healthy consumer demand, while investment activity is seen accelerating following this year’s expected rebound. Volatile commodity prices and fiscal slippage ahead of next year’s elections remain risks to the outlook. FocusEconomics panelists project the economy to expand 6.2% in 2020, which is unchanged from last month’s forecast, and 5.4% in 2021.Ghana Economy Data
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Ghana Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 5.70 | 0.0 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Dec 31 |
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Ghana Economic News
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Ghana: Inflation edges down in December
January 16, 2020
Consumer prices rose 0.3% in December, slowing from November’s 0.7% increase which had marked the highest reading since June.
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Ghana: PMI rises to one-and-a-half year high in December
January 6, 2020
The Ghana Purchasing Managers’ Index (PMI) ticked up to 52.7 in December, from 52.4 in November and marking a 18-month high.
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Ghana: Growth ticks down in Q3
December 18, 2019
Annual growth inched down to an over one-year low of 5.6% in the third quarter, according to a preliminary estimate released by Ghana’s Statistical Institute on 18 December.
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Ghana: Inflation jumps to four-month high in November
December 11, 2019
Consumer prices rose 0.7% in November, accelerating from October’s 0.4% increase and marking the highest reading since June.
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Ghana: Manufacturing PMI jumps to over one-year high in November
December 4, 2019
The Ghana Purchasing Managers’ Index (PMI) rose to 52.4 in November, from 50.1 in October, marking the best result in 14 months.
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