The S&P Global Ghana PMI rose to 47 in December of 2022, from 44.9 in the prior month. The latest reading pointed to the eleventh consecutive month of falling private sector activity but stronger than in the last four months. Output fell for the twelfth month running, although to the least extent since August while new orders declined for the tenth consecutive month. Meanwhile, employment stabilized, leading to a solid increase in staff costs, while backlogs of work were markedly down again. In addition, both purchasing activity and inventory holdings decreased amid falling workloads and high prices. Furthermore, the appreciation of the Ghanaian cedi against the US dollar reversed some of the upward pressure caused by currency weakness. On prices, inflation slowed rapidly compared to the previous month, albeit a sharp increase in purchase costs. Looking ahead, optimism rose sharply and was at the highest level since April, linked to positive expectations on output in 2023. source: Markit Economics

Composite PMI in Ghana averaged 50.63 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 February of 2023.

Composite PMI in Ghana is expected to be 46.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Ghana Composite PMI



Related Last Previous Unit Reference
Composite PMI 47.00 44.90 points Dec 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
47.00 44.90 56.50 31.70 2017 - 2022 points Monthly
SA

News Stream
Ghana Private Sector Contraction Eases
The S&P Global Ghana PMI rose to 47 in December of 2022, from 44.9 in the prior month. The latest reading pointed to the eleventh consecutive month of falling private sector activity but stronger than in the last four months. Output fell for the twelfth month running, although to the least extent since August while new orders declined for the tenth consecutive month. Meanwhile, employment stabilized, leading to a solid increase in staff costs, while backlogs of work were markedly down again. In addition, both purchasing activity and inventory holdings decreased amid falling workloads and high prices. Furthermore, the appreciation of the Ghanaian cedi against the US dollar reversed some of the upward pressure caused by currency weakness. On prices, inflation slowed rapidly compared to the previous month, albeit a sharp increase in purchase costs. Looking ahead, optimism rose sharply and was at the highest level since April, linked to positive expectations on output in 2023.
2023-01-05
Ghana Private Sector Activity Shrinks for 10th Month
The S&P Global Ghana PMI came in at 44.9 in November of 2022, up slightly from 44.0 in October but still pointing to a marked decline in the health of the private sector for the tenth consecutive month. New orders, business activity and staff numbers fell further, although the rates of decline were softer than in the previous month. Currency weakness and steep inflationary pressures continued to hit demand. Meanwhile, purchasing activity also decreased amid declining demand and higher prices for inputs. On the price front, overall input costs increased rapidly and at a faster pace that was among the sharpest in the past eight years. In turn, selling price inflation hit a series-record high. Lastly, business sentiment remained muted in November, despite improving from the previous month, with hopes that prices will stabilise and economic conditions improve over the coming year.
2022-12-06
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