A boat on the beach in Ghana

Ghana PMI February 2023

Ghana: PMI rises to over one-year high in February

The S&P Global Purchasing Managers’ index (PMI) came in at 50.2 in February, up from January’s 47.2. Consequently, the index rose above the 50.0 no-change threshold, signaling an improvement in private-sector operating conditions from the previous month. February’s result marked the first time since January 2022 that the print was in expansionary territory.

The February print showed an upbeat picture, with output and new orders expanding for the first time in 14 and 12 months, respectively. The improvement was anecdotally attributed to declining price pressures: In February, input inflation fell to its slowest rate in a year, while output inflation softened to its slowest rate since December 2021. In addition, recruitment increased for the third month running. More negatively, business sentiment waned from its one-year high last month to the weakest level in three months.

Andrew Harker, economics director at S&P Global Market Intelligence, underlined that:

“Ghana’s private sector was in recovery mode in February […]. Economic conditions remain challenging, however, and firms will need to see inflation continue to come down if the recovery is to be sustained in the months 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