The S&P Global Ghana PMI decreased to 47.4 in May of 2022, from 48.3 in the previous month. The latest reading pointed to a fourth consecutive month of contraction across the country's private sector and slightly stronger than in the previous month. Output fell at the quickest rate for just over two years and new orders declined for the third month in a row, reflecting global supply issues for some key inputs and soaring costs. This also led firms to scale back their buying activity. Meanwhile, companies continued to hire additional staff, with the rate of employment growth strongest for three months, despite a solid decline in backlogs. On the price front, inflationary pressures intensified, with overall input price inflation aceclerating to a more than seven-and-a-half-year high. Output price inflation also quickened to a fresh record high. Looking forward, firms remained optimistic but sentiment moderated. source: Markit Economics

Composite PMI in Ghana averaged 51.13 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 July of 2022.

Composite PMI in Ghana is expected to be 46.90 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 47.40 48.30 points May 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
47.40 48.30 56.50 31.70 2017 - 2022 points Monthly
SA

News Stream
Ghana Private Sector Shrinks for 4th Month and Faster
The S&P Global Ghana PMI decreased to 47.4 in May of 2022, from 48.3 in the previous month. The latest reading pointed to a fourth consecutive month of contraction across the country's private sector and slightly stronger than in the previous month. Output fell at the quickest rate for just over two years and new orders declined for the third month in a row, reflecting global supply issues for some key inputs and soaring costs. This also led firms to scale back their buying activity. Meanwhile, companies continued to hire additional staff, with the rate of employment growth strongest for three months, despite a solid decline in backlogs. On the price front, inflationary pressures intensified, with overall input price inflation aceclerating to a more than seven-and-a-half-year high. Output price inflation also quickened to a fresh record high. Looking forward, firms remained optimistic but sentiment moderated.
2022-06-03
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