Ghana: PMI rises in July
August 5, 2019
The Ghana Purchasing Managers’ Index (PMI) rose to 51.2 points in July from 50.5 points in June, which had marked the weakest reading since November 2018. As a result, the indexed moves further above the critical 50-point threshold that separates improvement from deterioration in Ghanaian business conditions where it has been for ten consecutive months.
July’s improvement reflected a quicker expansion in business activity on the back of rising output and new orders, amid positive demand. In turn, the rate of employment hastened as firms attempted to stay on top of their workload. On the price front, both input and output prices rose marginally in July. Meanwhile, business sentiment improved from June amid expectations of currency stability and improving economic conditions.
Author: Nicolás J. Aguilar, Economist