The S&P Global Ghana PMI rose to 51.3 in April of 2023, up from 50.9 in the prior month. The latest reading pointed to a modest improvement in the country's private sector, and one that was the strongest since December 2021. The rates of growth in new orders and output accelerated, as customer demand improved amid easing inflationary pressures. Accordingly, firms expanded their employment and purchasing activity. Also, suppliers' delivery times shortened for the twenty-first consecutive month. On the price front, overall input prices increased at the slowest pace in a year-and-a-half, with weaker increases seen with regard to both purchase prices and staff costs. Meanwhile, companies continued to increase their selling prices, but the rate of inflation eased for the fifth month running following last November's survey record and was the least pronounced since June 2021. Finally, business confidence improved in April and was at a three-month high. source: Markit Economics

Composite PMI in Ghana averaged 50.59 points from 2017 until 2023, 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 May of 2023.

Composite PMI in Ghana is expected to be 50.30 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 51.60 points in 2024 and 52.00 points in 2025, according to our econometric models.

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Ghana Composite PMI



Related Last Previous Unit Reference
Composite PMI 51.30 50.90 points Apr 2023

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
51.30 50.90 56.50 31.70 2017 - 2023 points Monthly
SA

News Stream
Ghana Private Sector Growth Hits Near 1-1/2-Year High
The S&P Global Ghana PMI rose to 51.3 in April of 2023, up from 50.9 in the prior month. The latest reading pointed to a modest improvement in the country's private sector, and one that was the strongest since December 2021. The rates of growth in new orders and output accelerated, as customer demand improved amid easing inflationary pressures. Accordingly, firms expanded their employment and purchasing activity. Also, suppliers' delivery times shortened for the twenty-first consecutive month. On the price front, overall input prices increased at the slowest pace in a year-and-a-half, with weaker increases seen with regard to both purchase prices and staff costs. Meanwhile, companies continued to increase their selling prices, but the rate of inflation eased for the fifth month running following last November's survey record and was the least pronounced since June 2021. Finally, business confidence improved in April and was at a three-month high.
2023-05-04
Ghana Private Sector Expands for 2nd Month
The S&P Global Ghana PMI rose to 50.9 in March of 2023 from 50.2 in the prior month, to signal expansion for the second month running following a 12-month sequence of deterioration. The rate of growth was modest but one that was the most marked since the end of 2021, on the back of a solid increase in new orders. As a result, business activity grew for the second month running, as customer demand reportedly improved amid a more stable currency and softer inflation. The improved business environment prompted firms to expand staffing levels again and raise purchasing activity for the first time in almost a year. Also, suppliers' delivery times shortened to the greatest extent on record. On the price front, overall input price inflation eased despite a slight pick-up in the pace at which firms increased their staff costs. Selling prices rose at the weakest rate in 21 months, although the pace of charge inflation remained marked overall. Lastly, business confidence improved slightly.
2023-04-05
Ghana Private Sector Activity Posts Marginal Growth
The S&P Global Ghana PMI rose to 50.2 in February of 2023 from 47.2 in the prior month, pointing to the first expansion in the country's private sector activity in over a year, albeit one that was only marginal overall. Both output and new orders returned to growth, amid signs of improving demand. That said, companies increased their staffing levels, and for the third month running. Purchasing activity also increased in February, ending a 14-month sequence of depletion. Moreover, the rise in inventories was solid and the fastest since September 2021. On the price front, overall input costs increased at the slowest pace for a year, albeit one that was still marked as both purchase prices and staff costs rose. In turn, selling prices rose at the softest pace since the end of 2021. Finally, business sentiment eased from the one-year high seen in January to the weakest in three months.
2023-03-03