Ghana: PMI rises in April
The IHS Markit Ghana Purchasing Managers’ Index (PMI) rose to 52.4 in April from 51.8 in March. Thus, the index moved further above to the neutral 50-threshold that separates improving from deteriorating conditions in the private sector compared to the prior month.
April’s higher reading was chiefly driven by growth in business activity, which grew at a quicker rate compared to March. Moreover, firmer customer demand resulted in higher workloads, which led firms to increase the hiring of new workers at the fastest pace since the start of the pandemic.
On the price front, purchase costs again rose further as businesses struggled to secure inputs for key goods, which resulted in output charges increasing at a quicker pace than in March. That said, sentiment fell to the lowest since last year amid continuing worries around the consequences of the Covid-19 pandemic.