The Stanbic Bank Ghana PMI rose to 52.5 in February of 2021 from 51.2 in the previous month. The reading pointed to the seventh straight month of expansion in the country's private sector and at the fastest pace since November of 2020. Employment growth was the highest in a year and enabled companies to reduce backlogs of work for the first time in seven months, while output and new orders continued to increase. Material shortages contributed to a cooldown in the expansion of purchasing activity and led to a spike in input costs, which was reflected in higher output prices. Looking forward, business optimism eased slightly from January. source: Markit Economics

Composite PMI in Ghana averaged 51.40 points from 2017 until 2021, 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 March of 2021.

Composite PMI in Ghana is expected to be 51.60 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 53.00 points in 2022, according to our econometric models.

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Ghana Composite PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.50 51.20 56.50 31.70 2017 - 2021 points Monthly
SA


News Stream
Ghana Business Activity Growth at 3-Month High
The Stanbic Bank Ghana PMI rose to 52.5 in February of 2021 from 51.2 in the previous month. The reading pointed to the seventh straight month of expansion in the country's private sector and at the fastest pace since November of 2020. Employment growth was the highest in a year and enabled companies to reduce backlogs of work for the first time in seven months, while output and new orders continued to increase. Material shortages contributed to a cooldown in the expansion of purchasing activity and led to a spike in input costs, which was reflected in higher output prices. Looking forward, business optimism eased slightly from January.
2021-03-03
Ghana Private Sector Grows for 6th Month
The Stanbic Bank Ghana PMI rose to 51.2 in January of 2021 from 50.3 in the previous month. The reading pointed to the sixth straight month of expansion in the country's private sector and at a slightly quicker pace than in the prior month. Output, new orders and employment continued to increase. On the price front, inflationary pressures built, as both input costs and output prices rose at sharper rates than in December. Looking forward, business sentiment was broadly in line with that seen in December, above the average since the survey began in January 2014.
2021-02-03
Ghana Private Sector Growth Weakest in 5 Months
The Stanbic Bank Ghana PMI fell to 50.3 in December of 2020 from 52.5 in the prior month, pointing to the softest expansion in five months. The rates of expansion in output and new orders softened as some firms paused activity due to the elections. Meanwhile, the rate of job creation quickened to a ten-month high. Still, there were reports that material shortages caused disruption in the private sector, leading to delivery delays, rising backlogs of work and higher price pressures. Finally, business sentiment ticked higher, with optimism above the average since the survey began in January 2014, largely reflecting hopes that 2021 would see an improving business climate.
2021-01-06
Ghana Private Sector Activity Growth Slows
The Stanbic Bank Ghana PMI went down to 52.5 in November of 2020 from 53.1 in the previous month, but still pointing to a solid improvement in private sector business conditions. Further solid increases in new orders and activity were recorded, although at softer rates. Meantime, the rate of job creation was modest and only marginal, insufficient to prevent a further build-up of outstanding business. On the price front, input prices continued to rise, mainly due to raw material shortages and currency weakness. Accordingly, output prices increased for the seventh month running, but less than in the prior month. Lastly, sentiment remained stronger than the series average, despite moderating slightly from October.
2020-12-03

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.