The S&P Global Ghana PMI increased to 48.3 in April of 2022, from 47.2 in the previous month. The latest reading pointed to a third consecutive month of contraction across the country's private sector, but at a slower pace and modest overall. There were softer reductions in both output and new orders while employment continued to expand. More positively, delivery times improved at a near-record rate, which helped underpin a renewed uptick in buying activity. On the price front, inflationary pressures intensified, weighed up by geopolitical tensions, rising material prices and global shortages. Overall input price inflation quickened to the highest since September 2014, while output charges were raised at a marked pace. Looking ahead, business confidence rebounded to the highest for three months. Firms reported hopes for new client wins, an end to international COVID-19 restrictions, and an improvement in demand. source: Markit Economics

Composite PMI in Ghana averaged 51.19 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 May of 2022.

Composite PMI in Ghana is expected to be 50.00 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 48.30 47.20 points Apr 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
48.30 47.20 56.50 31.70 2017 - 2022 points Monthly
SA

News Stream
Ghana Private Sector Contraction Softens
The S&P Global Ghana PMI increased to 48.3 in April of 2022, from 47.2 in the previous month. The latest reading pointed to a third consecutive month of contraction across the country's private sector, but at a slower pace and modest overall. There were softer reductions in both output and new orders while employment continued to expand. More positively, delivery times improved at a near-record rate, which helped underpin a renewed uptick in buying activity. On the price front, inflationary pressures intensified, weighed up by geopolitical tensions, rising material prices and global shortages. Overall input price inflation quickened to the highest since September 2014, while output charges were raised at a marked pace. Looking ahead, business confidence rebounded to the highest for three months. Firms reported hopes for new client wins, an end to international COVID-19 restrictions, and an improvement in demand.
2022-05-05
Ghana Private Sector Remains in Contraction
The S&P Global Ghana PMI decreased to 47.2 in March of 2022, from 49.6 in the previous month, pointing to a second successive deterioration in business conditions in Ghana’s private sector. New orders fell for the first time in seven months and output declined sharply. Meanwhile, staffing levels continued to grow while wages were raised at the quickest rate for eight months. Also, weak demand led Ghanaian companies to hold back on purchasing activity for the second month running. On the price front, in line with rising cost burdens, firms raised their selling charges at the quickest rate for seven-and-a-half years. Finally, business confidence dipped to a nine-month low, as steep cost pressures led some firms to reduce their output expectations.
2022-04-05
Ghana Private Sector Falls Back Into Contraction
The IHS Markit Ghana PMI decreased to 49.6 in February of 2022, from 50.8 in January, signalling the first deterioration in business conditions in the private sector for six months, albeit one that was only marginal overall. Output declined and new orders growth slowed, as customer demand faltered amid price rises. At the same time, purchasing activity fell for the first in seven months, while stocks of inputs were down for the third month running. Some respondents indicated that inventories were sufficient given weaker new order growth. On a more positive note, employment increased at a solid and accelerated pace. Meanwhile, suppliers' delivery times shortened as vendors made efforts to get jobs finished, while prompt payments also helped to speed up deliveries. On the price front, inflationary pressures intensified. Finally, business confidence dropped to an eight-month low, amid concerns around the impact of inflationary pressures on the private sector.
2022-03-03