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Ghana PMI January 2024

Ghana: Private-sector conditions deteriorate in January

The S&P Global Ghana Purchasing Managers’ Index (PMI) dropped to 48.4 in January from 51.8 in December. As a result, the index fell below the 50.0 no-change threshold for the first time in 12 months, signaling a deterioration in private-sector operating conditions compared to the previous month.

January’s downturn reflected a decrease in output, new orders and employment—with employment seeing the first decline since November 2022—due to muted demand, adverse weather conditions and softer market conditions. Turning to prices, purchase cost inflation waned, as did output charge inflation. Lastly, companies remained confident about increased output in the next 12 months; nevertheless, sentiment fell to a 14-month low.

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