Industry in Ghana
Ghana - IndustryAvailable data for the third quarter suggests the economy lost traction from Q2. Private sector activity contracted in September for the first time in nearly three years, reflected by a fall in the PMI below the critical 50-point threshold that separates improvement from deterioration in business conditions. Reduced demand and ongoing weakness in the cedi led to lower output and drove the downturn. On a positive note, exports picked up in July on strong global demand for gold and cocoa—Ghana’s top two export commodities—outpacing the upturn in imports, which improved the trade balance. Moreover, at the end of September, the country’s Statistical Institute included new data sources and changed the base year to measure the economy’s GDP—from 2006 to 2013—which has led to a revised estimate of the Ghanaian economy that is almost a quarter bigger than previously calculated.
Ghana - Industry Data
|Industrial Production (annual variation in %)||6.6||0.8||-0.3||-0.5||16.7|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||4.85||0.0 %||Oct 22|
|Stock Market||0.4||0.0 %||Oct 19|
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Ghana: PMI slips into negative territory for the first time in over two-and-a-half years in September
October 3, 2018
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) fell to 49.2 points in September, from 51.8 points in August.
September 24, 2018
At its three-day meeting concluding on 24 September, the Monetary Policy Committee (MPC) of the Bank of Ghana (BOG) held the monetary policy rate steady at 17.00%.
September 12, 2018
Inflation accelerated to 9.9% in August, from 9.6% in July.
September 5, 2018
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) remained stable from July at a nearly two-year low of 51.8 points in August.
August 15, 2018
Inflation came in at 9.6% in July, down from 10.0% in June.