Industry Archives - Wontumi Online

30 Jun

We Maintain Ghana’s Real Growth Rate Forecast Of 1.9% – 2.9%; Manufacturing To Contract – IC Research

wontumionlineBusinessAgriculture, IC Research, Industry, Real growth rate, Services

IC Research, the research arm of investment bank, IC Securities has maintained its forecast of Ghana’s Gross Domestic Product (GDP) growth for 2023 in the range of 1.9% to 2.9%. It expects sustained momentum in the livestock and crops sub-sector to spur growth within the agriculture sector while ICT, transport & storage, and education will continue to support the services sector growth. On the downside, it pointed out that “we expect aggressive fiscal consolidation in the second-half of 2023 to weigh on the public sector drivers of growth while the price sensitive trades, hospitality and industry sector remain constrained by…

20 Apr

Producer Price Inflation Falls To 43.7% In March 2023

wontumionlineBusinessConstruction, Industry, PPI, Services

Year-on-year inflation at factory gate prices for all goods and services fell to 43.7% in March 2023, from 50.8% recorded February 2023, according to the Ghana Statistical Service. This is in line with the Consumer Price Inflation which also fell to 45.0% in March 2023. According to the data, the monthly producer inflation rate was 1.7%. For the sectors, Industry recorded the highest Producer Price Inflation (PPI) of 43.3% in March 2023, compared to 57.9% in March 2022. It was followed by Construction with PPI of 18.8% and Services with PPI of 18%. With regard to the sub-sectors, Transportation and Storage recorded…

19 Apr

Economy Expands By 3.1% In 2022 – GSS

wontumionlineBusinessEconomy, GSS, Industry

Provisional estimates from the Ghana Statistical Service indicates that Ghana’s economy expanded by 3.1% in 2022, 0.6% lower than 3.7% forecast by the government. This is below Ghana’s average Gross Domestic Product (GDP) growth rate of 5.0% pre-Covid-19. It beat most analysts forecast as the African Development Bank in January 2023 had projected that Ghana’s economy grew by 3.6% in 2022. In 2021, post Covid-19, the economy grew by 0.9%. According to the GSS, Industry recorded a GDP growth rate of 0.9%. But the Manufacturing sub-sector (-2.5%), Electricity (-3.3%), Water and Sewerage (-4.9%) and Construction (-4.0%) sub-sectors contracted. In that…

19 Jan

Producer Inflation Falls To 52.2% In December 2022

wontumionlineBusinessConstruction, GSS, Industry, PPI, Services

The year-on-year inflation rate at factory gate prices for all goods and services fell to 52.2 % in December 2022, from 78.1% recorded in November 2022, data from the Ghana Statistical Services has revealed. The monthly change rate was -13.3%, indicating the rate of inflation slowed down during the month under review. This Producer Price Inflation (PPI) for December 2023 is however not too different from the Consumer Price Index (CPI) of 54.1% for the same period. Perhaps, this could signal a probable fall in the Consumer Price Inflation (CPI) in January 2023. The PPI in the Industry less construction…