The S&P Global Ghana PMI fell to 45.9 in August of 2022, the lowest in 28 months from 48.8 in July, pointing to the seventh consecutive month of decline in private sector activity. Output and new orders fell at sharp and accelerated rates while workforce numbers were cut for the second month in a row, amid subdued demand conditions. As a result, purchasing activity continued to decrease, albeit modestly, while firms reduced their inventories at the quickest pace for 20 months. On the price front, overall input price inflation quickened to a near eight-year high amid unfavourable dollar-cedi exchange rate movements and rising fuel costs. In turn, output prices increased at the sharpest pace on record. Lastly, sentiment regarding output in the year ahead remained positive, but eased to a five-month low, amid concerns over the economy, interest rate hikes, and high inflation. source: Markit Economics

Composite PMI in Ghana averaged 50.97 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 September of 2022.

Composite PMI in Ghana is expected to be 47.30 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 51.00 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 45.90 48.80 points Aug 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
45.90 48.80 56.50 31.70 2017 - 2022 points Monthly
SA

News Stream
Ghana Private Sector Activity Contracts Sharply in August
The S&P Global Ghana PMI fell to 45.9 in August of 2022, the lowest in 28 months from 48.8 in July, pointing to the seventh consecutive month of decline in private sector activity. Output and new orders fell at sharp and accelerated rates while workforce numbers were cut for the second month in a row, amid subdued demand conditions. As a result, purchasing activity continued to decrease, albeit modestly, while firms reduced their inventories at the quickest pace for 20 months. On the price front, overall input price inflation quickened to a near eight-year high amid unfavourable dollar-cedi exchange rate movements and rising fuel costs. In turn, output prices increased at the sharpest pace on record. Lastly, sentiment regarding output in the year ahead remained positive, but eased to a five-month low, amid concerns over the economy, interest rate hikes, and high inflation.
2022-09-05
Ghana Private Sector Activity Shrinks for 6th Month
The S&P Global Ghana PMI edged higher to 48.8 in July of 2022 from 48.5 in June, pointing to the sixth consecutive month of falling private sector activity. New orders and output continued to fall and sustained declines in activity and subsequent reductions in backlogs led firms to cut their headcounts for the first time in 11 months. On the price front, input costs continued to increase sharply amid higher fuel and raw material prices, but the rate of growth was the lowest since February. Selling prices also rose at a softer pace. Finally, firms maintained an optimistic view towards output amid hopes that global economic conditions would improve.
2022-08-03
Ghana Private Sector Downturn Eases
The S&P Global Ghana PMI increased to 48.5 in June of 2022, from 47.4 in the previous month, pointing to a fifth consecutive month of contraction across the country's private sector but the weakest in the current sequence. Output fell for the sixth month in a row, although the rate of decline eased noticeably. New orders also decreased for the fourth straight month amid reports of weaker demand. Despite this, firms raised their headcounts for the tenth month running, with the rate of employment growth modest but quicker than the long-run series average. At the same time, purchasing activity decreased slightly, while vendor performance continued to improve. On the price front, input costs continued to increase markedly amid higher fuel, raw material and staff costs. Selling prices also rose sharply but the rate of inflation eased from May's record high. Lastly, business sentiment improved from May.
2022-07-05