Ghana: PMI improves in December
January 6, 2022
The IHS Markit Purchasing Managers’ Index (PMI) came in at 51.8 in December, up from November's 51.0. As such, the index moved further above the 50-threshold, signaling a faster improvement in business conditions compared to the previous month.
December’s uptick came amid accelerated increases in output, new orders and employment. Upbeat consumer activity resulted in pressure on capacity, which led to the hiring of new workers to fill in the ranks. Notably, the rate of growth for input buying hit a 14-month high. On the price front, input prices continued to rise sharply, meaning firms had to pass on the costs to clients, increasing prices at a pace above the series average.
Author: Frederico Teixeira de Abreu, Junior Economist