The Stanbic Bank Ghana PMI rose to 51.2 in August 2020 from 49.7 in the previous month. The latest pointed to the first expansion in the private sector since February, amid the easing of coronavirus lockdown restrictions. New orders increased for the third successive month and output rose as demand strengthened. In addition, employment advanced marginally, ending a five-month sequence of job cuts, and firms raised their purchasing activity for the first time in six months. Meantime, delivery times were broadly unchanged following disruptions to supply chains in previous months due to the pandemic. On the price front, input cost inflation accelerated to a 22-month high while output charge inflation remained muted. Finally, sentiment improved to a a three-and-a-half year high, driven by optimism over demand.

Composite Pmi in Ghana averaged 51.34 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 September 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
51.20 49.70 56.50 31.70 2017 - 2020 points Monthly
SA


News Stream
Ghana Private Sector Activity Back to Expansion in August
The Stanbic Bank Ghana PMI rose to 51.2 in August 2020 from 49.7 in the previous month. The latest pointed to the first expansion in the private sector since February, amid the easing of coronavirus lockdown restrictions. New orders increased for the third successive month and output rose as demand strengthened. In addition, employment advanced marginally, ending a five-month sequence of job cuts, and firms raised their purchasing activity for the first time in six months. Meantime, delivery times were broadly unchanged following disruptions to supply chains in previous months due to the pandemic. On the price front, input cost inflation accelerated to a 22-month high while output charge inflation remained muted. Finally, sentiment improved to a a three-and-a-half year high, driven by optimism over demand.
2020-09-03
Ghana Private Sector Remains Broadly Stable in July
The Stanbic Bank Ghana PMI came in at 49.7 in July of 2020, unchanged from June's reading and signaling stability of business conditions in the private sector for the second straight month. New orders picked up amid some signs of improving demand, but output fell for the fifth month running amid ongoing weakness caused by the coronavirus crisis. Also, firms continued to scale back staff levels as backlogs of work fell markedly. Meantime, both purchasing activity and stocks of purchases decreased, amid fragile demand conditions. On the price front, the rate of overall input cost inflation was the sharpest since January amid a steep increase in purchase prices, most notably higher fuel prices and due to shortages of raw materials. As a result, selling prices were raised for the third month running but only marginally. Finally, sentiment strengthened to the highest since April 2018, on hopes of a reduction in the prevalence of Covid-19 and return to more normal economic conditions.
2020-08-06
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
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.