The IHS Markit Ghana PMI fell to 48.9 in August of 2021 from 49.7 in July, pointing to the second consecutive month of deteriorating in business conditions across the private sector. New business dropped after a 14-month period of growth, amid Covid-19 restrictions, heavy rainfall and recent price rises as some clients unable to afford to commit to projects. Companies also lowered their staffing levels for the second month running. In terms of prices, input costs and selling prices continued to increase. Despite signs of weakness in August, companies remained strongly optimistic that business activity will increase over the coming year. Hopes of improving business conditions and greater stability around prices were behind positive sentiment, although optimism eased from that seen in July. source: Markit Economics

Composite PMI in Ghana averaged 51.34 points from 2017 until 2021, 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 2021.

Composite PMI in Ghana is expected to be 49.20 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 52.00 points in 2022 and 54.00 points in 2023, according to our econometric models.

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Ghana Composite PMI

Actual Previous Highest Lowest Dates Unit Frequency
48.90 49.70 56.50 31.70 2017 - 2021 points Monthly
SA


News Stream
Ghana Private Sector Activity Shrinks for 2nd Month
The IHS Markit Ghana PMI fell to 48.9 in August of 2021 from 49.7 in July, pointing to the second consecutive month of deteriorating in business conditions across the private sector. New business dropped after a 14-month period of growth, amid Covid-19 restrictions, heavy rainfall and recent price rises as some clients unable to afford to commit to projects. Companies also lowered their staffing levels for the second month running. In terms of prices, input costs and selling prices continued to increase. Despite signs of weakness in August, companies remained strongly optimistic that business activity will increase over the coming year. Hopes of improving business conditions and greater stability around prices were behind positive sentiment, although optimism eased from that seen in July.
2021-09-03
Ghana Private Sector Posts 1st Contraction in a Year
The IHS Markit Ghana PMI fell to 49.7 in July of 2021 from 51 in June, pointing to the first contraction in the country's private sector in a year. Output, employment and purchasing activity decreased, whle new order growth slowed to a marginal pace. In terms of prices, both input costs and selling prices continued to rise sharply. Also, suppliers' delivery times lengthened marginally again in July, largely attributed to goods shortages. On a brighter note, business sentiment was the highest since March, amid expectations of higher new orders over the coming year and a reduction in the level of disruption caused by the COVID-19 pandemic.
2021-08-05
Ghana Private Sector Growth Subdued
The IHS Markit Ghana PMI edged down to 51 in June of 2021 from 51.5 in May, signalling a slight improvement in business conditions, but one that was the weakest in the year-to-date. Output, new orders and employment rose at a milder pace, hampered by marked increases in prices. The rate of expansion in input buying also softened. At the same time, a further marked accumulation of outstanding business was recorded amid delays in the receipt of raw materials and production issues. Lastly, sentiment dropped to a 14-month low, due to concerns about cost pressures.
2021-07-05
Ghana Private Sector Growth Remains Robust
The IHS Markit Ghana PMI fell to 51.5 in May of 2021 from 52.4 in April, pointing to the slowest expansion in private sector activity in four months although the rate of growth remained robust. Output and new orders continued to rise, while firms continued to up their rate of hiring. Purchase costs and selling prices both increased sharply, however, and there were some reports that marked price rises had started to impact both client demand and the desire of firms to hold inventories.
2021-06-03

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.