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.