Gana Pmi Composite

The S&P Global Ghana PMI rose to 50.6 in October 2024, up from 49.1 in the prior month, indicating a mild return to expansion in the country's private sector. Renewed increases in both output and new orders were accompanied by the fastest rise in employment so far this year. Meanwhile, purchasing activity was scaled back amid muted customer demand and elevated prices for inputs. Indeed, the rate of overall input cost inflation quickened to a three-month high, largely due to a depreciation of the cedi against the US dollar and higher raw material prices. Consequently, selling prices were also raised, with the rate of increase steeper than the series average. Lastly, business sentiment dropped to a three-month low, but it remained stronger than the series average.