31
Jan
Economic activity moderated in the fourth quarter of 2022, the Bank of Ghana’s high frequency indicators has disclosed. The updated Composite Index of Economic Activity (CIEA) contracted by 6.2% in November 2022, compared with a growth of 10.2% in the same period of 2021. According to the Central Bank, the major items that weighed down the Index during the period were port activity, cement sales, imports, and industrial consumption of electricity. Meanwhile, latest confidence surveys conducted by the Central Bank in December 2022 pointed to some marginal improvement in sentiments. Consumer confidence improved on the back of the recent reductions…