Industry in Ghana
Ghana - IndustryAvailable data for the first quarter signals a further cooling after a downturn in the all-important oil and gas sector weighed on growth in the final quarter of 2018. Household consumption likely decelerated in Q1 as the cedi’s marked fall against the U.S. dollar, coupled with elevated inflation, appears to have eaten into consumer demand. On top of that, significant volatility in the foreign exchange markets likely curbed investment activity growth. External sector metrics were also downbeat: Merchandise exports fell on an annual basis in the quarter, largely due to lower cocoa shipments and stagnant gold exports. Meanwhile, incoming data suggests that soft momentum carried over into the second quarter: The PMI fell to a six-month low in May amid stagnating business activity, while cedi volatility and still-high inflation pointed to sustained headwinds to domestic demand.
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||5.39||0.0 %||Jun 20|
|Stock Market||0.4||0.0 %||Jun 20|
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June 20, 2019
According to a preliminary estimate released by Ghana’s Statistical Institute, the economy expanded 6.7% year-on-year in the first quarter of the year, down slightly from the previous quarter’s 6.8% increase.
June 12, 2019
Consumer prices rose 0.9% over the previous month in May, following a 1.1% month-on-month increase in April.
June 6, 2019
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) ticked down from 51.2 points in April to 50.6 in May, the weakest reading since November 2018.
May 27, 2019
At its three-day meeting which concluded on 27 May, the Monetary Policy Committee (MPC) of the Bank of Ghana (BOG) kept its key policy rate unchanged at a five-year low of 16.00%.
May 16, 2019
Consumer prices rose 1.1% over the previous month in April, following a 1.2% month-on-month increase in March.