A boat on the beach in Ghana

Ghana PMI October 2019

Ghana: Manufacturing PMI jumps to over one-year high in November

The Ghana Purchasing Managers’ Index (PMI) rose to 52.4 in November, from 50.1 in October, marking the best result in 14 months. As a result, the index moved further above the critical 50-threshold that separates improvement from deterioration in Ghanaian business conditions, where it has been for 14 consecutive months.

November’s upturn was largely driven by a rebound in new business which rose at the strongest pace so far this year, amid solid consumer demand. In turn, output growth accelerated to an 18-month high in November, with backlogs of work continuing to increase and employment rising at the strongest pace in ten months. On the price front, input price inflation remained elevated amid currency weakness, while output prices rose accordingly. Lastly, business sentiment remained broadly stable and was positive in November.

Andrew Harker, Associate Director at IHS Markit, noted:

” Last month we surmised that the fall in new orders may have just been a weather-related blip and this does appear to have been the case as a solid rebound in new business was recorded in November. The expansion in new work breathed life through the private sector […] providing optimism that the Ghanaian economy can finish 2019 on a positive note.”

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