A boat on the beach in Ghana

Ghana PMI March 2024

Ghana: Ghana PMI shows improved private sector growth in March

The S&P Global Ghana Purchasing Managers’ Index (PMI) improved to 50.9 in March from 50.2 in February. As a result, the index moved further above the 50.0 no-change threshold and signaled a faster improvement in private sector operating conditions compared to the previous month.

March’s upturn was primarily driven by growth in new orders accelerating from February, which led to a rebound in output: Output rose for the first time in three months, and its growth rate was the fastest since August 2023. Firms responded by increasing their employment, purchasing, and inventories, although the rate of growth in purchasing activity and employment remained mild and broadly unchanged from February.

In March, inflationary pressures markedly intensified, largely due to a weaker cedi against the USD. Purchase cost inflation was the strongest since December 2022. In turn, companies raised their selling prices at the fastest pace in 13 months. Despite this, business confidence in Ghana remained strongly positive, driven by hopes for relative price stability and the continued expansion of new orders in the year ahead.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest