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Ghana PMI October 2023

Ghana: PMI unchanged in October

The S&P Global Purchasing Managers’ Index (PMI) came in at 50.5 in October, matching September’s reading. Consequently, the index remained above the 50.0 no-change threshold, signaling a continued improvement in private sector operating conditions from the previous month.

While output remained unchanged, new orders increased at the slowest pace in nine months, limited by currency shortages and financing issues. That said, employment rose the most in 20 months. Looking at prices, input costs rose due to a weakening currency and an increase in staff hiring costs, and output charges increased as companies responded to higher input costs. Business confidence reached a nine-month high amid stable exchange rate expectations.

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