Ghana Private Sector Downturn Deepens

The S&P Global Ghana PMI fell to 47.9 in January 2025, down from 49.4 in December, marking the second consecutive monthly contraction in the country’s private sector, and the steepest in two years.

A renewed drop in new orders led to a sharper decline in output and a decrease in purchasing activity.

Staffing levels remained stable.

On the price front, inflationary pressures remained acute but inflation rates for both input costs and output prices eased.

More positively, business confidence rose to a three-year high, driven by expectations of improved business conditions.

Some companies also expressed hope that the new government's policies would stimulate economic growth.