The S&P Global Ghana PMI fell further to 44 in October of 2022 from 45.6 in September, pointing to the ninth consecutive month of contraction in the country's private sector and to the greatest extent since April of 2020. Faster declines were recorded for output, new orders, input inventories and employment, as the impact of recent currency weakness on prices weighed on client demand. On the price front, the rate of overall input price inflation remained substantial, despite slowing to a three-month low, while output charges rose at a near-record rate. Looking ahead, business sentiment fell to the lowest for over two-and-a-half years, amid concerns over currency weakness and the global economy. source: Markit Economics

Composite PMI in Ghana averaged 50.77 points from 2017 until 2022, 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 November of 2022.

Composite PMI in Ghana is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ghana Composite PMI is projected to trend around 51.00 points in 2023 and 52.00 points in 2024, according to our econometric models.

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Ghana Composite PMI



Related Last Previous Unit Reference
Composite PMI 44.00 45.60 points Oct 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
44.00 45.60 56.50 31.70 2017 - 2022 points Monthly
SA

News Stream
Ghana Private Sector Activity Contracts for 9th Month
The S&P Global Ghana PMI fell further to 44 in October of 2022 from 45.6 in September, pointing to the ninth consecutive month of contraction in the country's private sector and to the greatest extent since April of 2020. Faster declines were recorded for output, new orders, input inventories and employment, as the impact of recent currency weakness on prices weighed on client demand. On the price front, the rate of overall input price inflation remained substantial, despite slowing to a three-month low, while output charges rose at a near-record rate. Looking ahead, business sentiment fell to the lowest for over two-and-a-half years, amid concerns over currency weakness and the global economy.
2022-11-03
Ghana Private Sector Activity Falls to 29-Month Low
The S&P Global Ghana PMI fell to 45.6 in September 2022 from 45.9 in August, contracting for the eight consecutive month and marking the lowest reading in private sector activity since April 2020. Output fell at the third-steepest rate since the survey began in January 2014, surpassed only by those seen during the height of the pandemic in March and April 2020. Similarly, new orders fell sharply with over a quarter of respondents recording lower inflows of new work in September compared to August, with higher prices reportedly deterring customers from placing orders. Meanwhile, backlogs have now fallen in each month since the start of the year as companies scaled back output levels. With demand conditions weak, and backlogs falling, firms sought to reduce their costs in September by cutting headcounts. Inflationary pressures were also once again elevated in September with panelists often blaming unfavorable exchange rate movements against the dollar for higher prices.
2022-10-05
Ghana Private Sector Activity Contracts Sharply in August
The S&P Global Ghana PMI fell to 45.9 in August of 2022, the lowest in 28 months from 48.8 in July, pointing to the seventh consecutive month of decline in private sector activity. Output and new orders fell at sharp and accelerated rates while workforce numbers were cut for the second month in a row, amid subdued demand conditions. As a result, purchasing activity continued to decrease, albeit modestly, while firms reduced their inventories at the quickest pace for 20 months. On the price front, overall input price inflation quickened to a near eight-year high amid unfavourable dollar-cedi exchange rate movements and rising fuel costs. In turn, output prices increased at the sharpest pace on record. Lastly, sentiment regarding output in the year ahead remained positive, but eased to a five-month low, amid concerns over the economy, interest rate hikes, and high inflation.
2022-09-05