The Stanbic Bank Ghana PMI rose to 49.7 in June of 2020 from 46.7 in May. New orders grew for the first time in four months, with a loosening of Covid-19 restrictions cited as the main reason behind the expansion. Thus, the rate of decline in output was only slight, and the slowest in the current four-month sequence of contraction. However, employment fell for the 4th month running, and at a solid pace, due the severity of the declines in workloads during the worst of the downturn. The supply-chain disruption remained evident and it was more marked than in May, due to the scarcity of some raw materials. In terms of prices, purchase prices rose for the first time in four months, as border closures restricted the ability to import items. Output charges were up for the 2nd month running, but only marginally as some firms offered discounts to customers to try and secure sales. Finally, sentiment improved only slightly, supported by hopes of a continued gradual return to normality.

Composite Pmi in Ghana averaged 51.38 points from 2017 until 2020, reaching an all time high of 56.50 points in September of 2017 and a record low of 31.70 points in April of 2020. This page provides - Ghana Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Composite Pmi - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Markit Economics

Composite Pmi in Ghana is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Ghana to stand at 52.00 in 12 months time. In the long-term, the Ghana Composite Pmi is projected to trend around 52.00 points in 2021 and 53.00 points in 2022, according to our econometric models.

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Ghana Composite Pmi

Actual Previous Highest Lowest Dates Unit Frequency
49.70 46.70 56.50 31.70 2017 - 2020 points Monthly
SA


News Stream
Ghana Private Sector Nears Stabilization in June
The Stanbic Bank Ghana PMI rose to 49.7 in June of 2020 from 46.7 in May. New orders grew for the first time in four months, with a loosening of Covid-19 restrictions cited as the main reason behind the expansion. Thus, the rate of decline in output was only slight, and the slowest in the current four-month sequence of contraction. However, employment fell for the 4th month running, and at a solid pace, due the severity of the declines in workloads during the worst of the downturn. The supply-chain disruption remained evident and it was more marked than in May, due to the scarcity of some raw materials. In terms of prices, purchase prices rose for the first time in four months, as border closures restricted the ability to import items. Output charges were up for the 2nd month running, but only marginally as some firms offered discounts to customers to try and secure sales. Finally, sentiment improved only slightly, supported by hopes of a continued gradual return to normality.
2020-07-03
Ghana Private Sector Shrinks Softer in May
The Stanbic Bank Ghana PMI increased to 46.7 in May of 2020 from a record low of 31.7 in the previous month. Output and new orders fell at a slower pace, amid the loosening coronavirus pandemic lockdown measures. However, employment continued to decrease sharply, amid reports of spare capacity and the implementation of social distancing rules. Finally, business confidence turned positive and was the highest since November 2018 on hopes that economic conditions will return to normal once the Covid-19 pandemic subsides.
2020-06-03
Ghana Composite PMI Hits New Low in April
The Stanbic Bank Ghana PMI slumped to a new record low of 31.7 in April of 2020 from 41.4 in the previous month. Output and new orders hit new lows, severely impacted by the imposed shutdowns as the Covid-19 pandemic intensified. Employment fell substantially for the second month running, broadly in line with that seen in March, amid lower workloads and efforts to comply with social distancing rules in the workplace. Also, purchasing activity and inventories were reduced at unprecedented rates. On the price front, both input costs and output prices continued to decrease sharply, amid falling demand. Meanwhile, business confidence picked up in April, after having slumped in March, on hopes that activity may return to growth following the end of the lockdown.
2020-05-06
Ghana Private Sector Contracts at Record Pace
The Stanbic Bank Ghana PMI sank to an all-time low of 41.4 in March of 2020 from 52.6 in the previous month, signalling the worst downturn ever recorded in the country's private sector. New orders, output and employment all decreased at a record pace, linked to temporary company shutdowns and a lack of customers resulting from the epidemic situation. In addition, firms cut sharply their purchasing activity, with some firms indicating issues with the supply of materials from other countries such as China. In terms of prices, overall input costs fell for the first time in the survey's history, due to lower costs of fuel and staff. Accordingly, selling prices also were reduced at a record pace. Finally, business sentiment was strongly impacted by COVID-19 and hit a new record low, mainly associated with company shutdowns and other measures to attempt to contain the virus leading to pessimism at a number of firms.
2020-04-03

Ghana Composite Pmi
The Stanbic Bank Ghana Purchasing Managers’ Index is based on data compiled from monthly replies to questionnaires sent to purchasing executives in approximately 400 private sector companies, which have been carefully selected to accurately represent the true structure of the Ghanaian economy, including agriculture, construction, industry, services and wholesale & retail. The panel is stratified by GDP and company workforce size. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. The Purchasing Managers’ Index (PMI) is a composite index based on five of the individual sub-components with the following weights: New Orders- 0.3, Output- 0.25, Employment- 0.2, Suppliers’ Delivery Times- 0.15, Stock of Items Purchased- 0.1, with the Suppliers’ Delivery Times sub-component inverted so that it moves in a comparable direction.