Ghana Pmi Composite

The S&P Global Ghana PMI fell to 49.1 in September 2024, from 51.1 in the prior month, indicating a renewed contraction in the private sector at the steepest rate since January. New orders and business activity declined, following growth in the prior month, largely due to inflationary pressures amid a weaker cedi against the dollar. Purchasing activity decreased marginally for the second month in a row, reflecting weak customer demand and high input prices. Stocks of purchases fell for the first time in three months. While purchase costs continued to rise, inflation eased to a five-month low but remained above the series average. Selling prices increased sharply, although the pace of inflation slowed for the third consecutive month. On a positive note, companies continued to increase staffing levels, and business confidence improved for the second month in September, driven by hopes of greater stability in exchange rates and prices.